Eugene-Springfield, OR Federal Housing Finance Agency Home Price Index (FHFA HPI)

Eugene-Springfield, OR is a metropolitan area located in the state of Oregon. The area includes the cities of Eugene and Springfield, as well as the surrounding communities. According to the Federal Housing Finance Agency (FHFA) house price index, home prices in Eugene-Springfield have been on the rise in recent years.

Between 2000 and 2005, home prices in Eugene-Springfield increased by an average of 4.3% per year. This trend continued into 2006, with prices rising by 6.4%. In 2007, however, prices began to level off and even decline slightly, falling by 0.8%. This trend continued into 2008 and 2009, with prices falling by an average of 2.6% per year during this time period. Prices began to rebound in 2010, increasing by 3.7%. However, they still remained below their pre-recession levels.

Since 2010, home prices in Eugene-Springfield have continued to increase steadily. Between 2010 and 2015, prices rose by an average of 5% per year. As of 2016, the median home price in Eugene-Springfield was $219,000 – up from $205,000 just five years earlier.

The rise in home prices has been accompanied by a corresponding increase in home equity values. Home equity is the portion of a property’s value that is owned outright by the homeowner; it increases as the property’s value goes up and decreases as it goes down. In 2000, the median home equity value in Eugene-Springfield was $68,000; by 2016, it had risen to $116,000 – an increase of 70%.

The increase in both home prices and home equity values has made homeownership more affordable for many families in Eugene-Springfield. According to data from RealtyTrac®, a real estate information company specializing in foreclosure properties, the number of homes entering foreclosure proceedings fell sharply between 2010 and 2016 – from 1 out every 562 homes to 1 out every 2142 homes (a decrease of 62%). This decline is likely due at least partially to increased equity values making it easier for homeowners to sell their properties or refinance their mortgages when necessary