Crestview-Fort Walton Beach-Destin, FL Federal Housing Finance Agency Home Price Index (FHFA HPI)

In the Crestview-Fort Walton Beach-Destin, FL, Federal Housing Finance Agency (FHFA) house price index (HPI), home equity is calculated as the difference between the property's value and the outstanding balance of all liens on the property. Home prices are measured by taking into account changes in both home values and mortgage debt levels.

The HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. The HPI covers single-family properties that have transactions in which a mortgage is originated or an existing mortgage is refinanced. Properties with multiple transactions during a given quarter are only counted once in that quarter's index value.

As of Q4 2020, the latest data available, Crestview-Fort Walton Beach-Destin home prices were up 3.7% from a year earlier while home equity was up 5.1%. This marks the fourth consecutive quarter of rising prices and equity in Crestview-Fort Walton Beach-Destin. Prices are now 11% above their pre-recession peak set in Q3 2005 while equity has reached a new all-time high of $163 billion.