Greeley, CO Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Greeley, CO, 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 HPI covers single-family detached homes and condominiums.

The Greeley HPI value for 2020Q1 was 226.948, up 1.8 percent from 2019Q4 and up 5.7 percent from 2020Q1. The annualized rate of appreciation was 2.2 percent in 2020Q1 compared to 1.6 percent in 2019Q4 and 4.5 percent in 2020Q1.

The FHFA HPI is calculated using data from Freddie Mac's Primary Mortgage Market Survey® (PMMS®), which covers about 75 percent of U.S. home mortgages.(1) The PMMS sample includes approximately 8,000 to 9,000 mortgage transactions per month.(2) Transactions are aggregated at the MSA/MD level and then weighted by Freddie Mac's estimate of the number of owner-occupied units in each MSA/MD as of the reference date.(3) This results in an overall national weighting factor of just over 50%.(4)

In order to be included in the PMMS sample, a transaction must involve a first-lien mortgage on a one-unit property that is not investor owned.(5) In addition, the transaction must be closed within 30 days of Freddie Mac's survey date and cannot have been previously reported to Freddie Mac through another source.(6) For more information on how the FHFA HPI is calculated please see Appendix A: Technical Documentation for the FHFA House Price Indexes or visit www.fhfa