Frederick-Gaithersburg-Rockville, MD (MSAD) Federal Housing Finance Agency Home Price Index (FHFA HPI)

In the fourth quarter of 2019, the Frederick-Gaithersburg-Rockville, MD house price index was 225.7, up 2.4% from the previous quarter and up 5.1% from one year earlier. The median sales price of a home in Frederick-Gaithersburg-Rockville was $406,000 in the fourth quarter of 2019, an increase of 2.8% from the previous quarter and an increase of 6.2% from one year earlier.

Home equity is the portion of a homeowner's property that is free and clear of any liens or mortgages. In other words, it is the market value of a homeowner's property minus any outstanding mortgage debt on the property. The Frederick-Gaithersburg-Rockville metro area had a median home equity of $229,000 in the fourth quarter of 2019, an increase of 2.5% from the previous quarter and an increase of 5.6% from one year earlier.

Home prices in Frederick-Gaithersburg-Rockville have been rising steadily over the past few years as demand for housing in the area has increased while supply has remained relatively tight. The strong job market in Frederick-Gaithersburg-Rockville has been a major driver of housing demand as more people are moving to the area for work opportunities. Additionally, many people who already live in Frederick-Gaithersburg-Rockville are choosing to buy homes rather than rent because they believe that home prices will continue to rise and they want to build equity in their properties.