Hagerstown-Martinsburg, MD-WV Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Hagerstown-Martinsburg, MD-WV, 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 covers single-family homes and condominiums.

The HPI value for a particular geographic area is a weighted average of transaction prices on properties located within that area over time. The weighting is designed to account for the fact that some areas have more transactions than others and to smooth out volatility caused by small numbers of transactions in any given period. The house price index values are calculated using data from Fannie Mae and Freddie Mac's conventional single-family mortgage purchases and refinances.

The FHFA HPI values are published monthly, with data available back to 1991. The most recent data point is for December 2020.

In December 2020, the FHFA HPI value for Hagerstown-Martinsburg was 176.7, up 0.4% from November 2020 and up 4% from December 2019.

Over the past year, home prices in Hagerstown-Martinsburg have increased at a moderate pace while remaining relatively affordable compared to other parts of the country. Despite concerns about the potential impact of COVID-19 on the housing market, home prices in Hagerstown-Martinsburg have remained strong and continue to trend upward.

As we enter 2021, it will be interesting to see if this trend continues or if there is a slowdown in home price growth due to economic uncertainty caused by the pandemic.