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

As of September 2020, the Greenville, NC, Federal Housing Finance Agency (FHFA) house price index was at 153.7. This is a 0.4% increase from the August 2020 index of 153.3. The FHFA house price index is a measure of home prices in the United States and is used as a tool by economists to track changes in home prices and equity.

The Greenville, NC, housing market has seen strong growth in recent years, with home prices rising steadily since 2013. In September 2020, the median sales price for a home in Greenville was $269,000, up 8.2% from the same month last year. The average sales price for a home in Greenville was $302,000 in September 2020, up 7.6% from the same month last year.

The rise in Greenville home prices has been driven by strong demand from buyers and limited supply of homes for sale. The number of homes for sale in Greenville has declined sharply over the past few years while buyer demand has remained strong. This imbalance between supply and demand has caused prices to rise rapidly as buyers compete for available homes.

The tight housing market conditions have also contributed to an increase in home equity values across the city. Homeowners in Greenville saw their equity increase by an average of 9% over the past year as their property values rose faster than their mortgage balances grew. As of September 2020, the average homeowner in Greenville had $140,000 in equity which is up from $128,000 one year ago and $115,000 two years ago