Deltona-Daytona Beach-Ormond Beach, FL Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Deltona-Daytona Beach-Ormond Beach, FL, Federal Housing Finance Agency (FHFA) house price index (HPI) is a weighted, repeat-sales index measuring average price changes in single-family houses in the metropolitan statistical area. The HPI is a useful tool for analyzing home equity and home prices in the Deltona-Daytona Beach-Ormond Beach metro area.

As of the fourth quarter of 2019, the FHFA HPI for the Deltona-Daytona Beach-Ormond Beach metro area was 178.4, up 5.6% from a year earlier. Home prices in the metro area have been rising steadily since bottoming out in early 2012. From 2012 to 2019, prices rose by nearly 60%.

The strong rise in home prices has helped to increase home equity levels across the metro area. As of the fourth quarter of 2019, the median home value in the Deltona-Daytona Beach-Ormond Beach metro area was $219,900, up from $183,000 in 2012. This increase in value has helped to boost home equity levels for many homeowners in the region.

The rise in home values has also been a key driver of economic growth in the region. As housing values have increased, so too has construction activity and related jobs. In addition, higher housing values make it easier for homeowners to access credit and tap into their equity to finance other purchases or investments.