Dothan, AL Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Dothan, AL, Federal Housing Finance Agency (FHFA) House Price Index (HPI) is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same properties. The index was created in order to be a more timely measure of home price changes than other indices because it only uses data from closed loans.

The HPI value for Dothan, AL is currently at 155.0, which means that home prices have increased by 55% since the index’s creation in January 2000. Home prices in Dothan have been on the rise since 2012, when the HPI value was 116.4. In the past year alone, prices have increased by 8%.

There are many factors that contribute to rising home prices in Dothan. The population of Dothan has been growing steadily for years, and with more people moving to the area there is more demand for housing. Additionally, the economy in Dothan is strong and unemployment is low, which means people have more money to spend on housing. Low interest rates also play a role in rising home prices as they make it cheaper to borrow money for a mortgage.

If you are thinking of buying a home in Dothan or investing in the housing market there, it is important to be aware of these trends and anticipate further price increases. While there is always some risk involved when buying property, if you do your research and work with a experienced real estate agent you can find a great deal on a home that will appreciate in value over time.