Fayetteville, NC Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Fayetteville, NC, 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 covers single-family homes and condominiums. The FHFA HPI is a broad measure of home prices in the United States and is published monthly.

In the Fayetteville, NC, metro area, the HPI was up 2.1% from a year ago in September 2020 to 248.9 (meaning that a home valued at $100 in January 2000 would be worth $248,900 in September 2020). From January 2000 to September 2020, prices increased by 105%.

Home equity is the portion of a property's value that an owner has paid for with cash or other financing; it's often used as collateral for loans. In other words, it's the difference between what a property is worth and what is owed on it.

In September 2020, homeowners in the Fayetteville metro area had an average of $146,000 in home equity—an increase of $5,000 from one year earlier—and an average loan-to-value ratio of 61%. This means that on average homeowners have paid off 39% of their mortgage loan and own 61% outright. Homeowners with less than 20% equity are considered "underwater."

The median sale price of homes in the Fayetteville metro area was $210,000 in September 2020—up 5% from one year earlier ($199,500). This marks 28 consecutive months of year-over-year increases in median sale prices.