Gary, IN (MSAD) Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Gary, IN 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 accurate measure of house price changes than other commonly used indices because it uses data on actual transactions rather than appraisals.

As of the most recent data available (Q4 2017), the Gary, IN HPI was at 155.3, up 0.8% from Q3 2017 and up 4.7% from Q4 2016. This means that, on average, home prices in Gary have increased slightly over the past quarter and have seen healthy growth over the past year.

Looking at home equity, we see that as of Q4 2017, the median home equity for owner-occupied homes with a mortgage in Gary was $13,700, down slightly from $14,000 in Q3 2017 but up significantly from $11,600 in Q4 2016. This increase in home equity is likely due to the combination of rising home prices and homeowners paying down their mortgages over time.

Overall, the data shows that both home prices and home equity are trending upwards in Gary , IN , which is good news for both homeowners and potential buyers alike.