Harrisonburg, VA Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Harrisonburg, VA, 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.

As of December 2020, the HPI for Harrisonburg was 176.4, up from 174.8 in November 2020 and 171.3 in December 2019. This represents a year-over-year increase of 2% and a month-over-month increase of 1%.

Looking at home equity, as of Q3 2020, homeowners in Harrisonburg had an average equity stake of $159,000 per property, up from $156,000 in Q2 2020 and $149,000 in Q3 2019. This represents an annual increase of 7% and a quarterly increase of 3%. Homeowners with mortgages had an average loan-to-value ratio (LTV) of 80%, down from 81% in Q2 2020 and 83% in Q3 2019. This means that they have 20% equity stake on average.

In terms of home prices specifically, the median sales price for existing homes in Harrisonburg was $259,900 in December 2020, up from $255,000 in November 2020 and $247,500 in December 2019. This represents a year-over-year increase of 5% and a month-over-month increase of 2%. The median sales price for new homes was $337,500 in December 2020 ,up from $332,500in November 2020 but down from$345 ,000in December2019 .Thisrepresentsa year - over - year decreaseof 2 % but amonth - over - monthincreaseof 2 % .