Gainesville, GA Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Federal Housing Finance Agency (FHFA) house price index for Gainesville, GA was released on March 31, 2016. The index showed that home prices in the area increased by 0.4% from the previous quarter and by 2.1% from the same quarter last year. This is good news for homeowners in Gainesville as it indicates that their home equity is increasing.

Home prices have been on the rise nationally since bottoming out in early 2012 and this trend is expected to continue in 2016. Despite concerns about a potential housing bubble, most experts believe that we are not currently in one. They attribute the current rise in prices to low interest rates and strong demand from buyers who have been waiting for prices to bottom out before entering the market.

In Gainesville, there were 1,092 sales of existing homes in 2015, which was a 9% increase from 2014 and a 29% increase from 2013. The median sales price was $182,000, which was a 4% increase from 2014 and a 12% increase from 2013. The average days on market decreased slightly to 87 days in 2015 from 89 days in 2014.

The FHFA house price index is just one way to measure home values in an area but it is a good indicator of trends over time. Homeowners who are considering selling their home or taking out a home equity loan should pay attention to this index as well as other factors such as recent sales data and their own personal financial situation before making any decisions.