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

As of September 2020, the Federal Housing Finance Agency (FHFA) house price index for Jacksonville, NC was 225.7. This is a 0.4% increase from the August 2020 index of 224.5, and a 5.2% increase from the September 2019 index of 214.3.

The FHFA house price index is based on home sales data from Freddie Mac and Fannie Mae, which are government-sponsored enterprises that purchase mortgages from lenders and package them into securities for investors. The index covers single-family homes with conforming loan amounts that are purchased by owner-occupants with conventional financing.

Jacksonville's housing market has been strong in recent years, due in part to the presence of Marine Corps Base Camp Lejeune and Marine Corps Air Station New River. The area's population has grown steadily since 2010, and job growth has been strong as well. These factors have helped to support increases in home prices and equity values.

As of September 2020, the median home value in Jacksonville was $219,700, an increase of 6.8% from the previous year. The median home equity value was $159,100, an increase of 8.6% from the previous year. Homeowners in Jacksonville have seen their equity values grow at a slightly faster pace than home values themselves over the past year or so.

Looking forward, it is possible that rising interest rates could put some downward pressure on home prices in Jacksonville (and elsewhere). However, given the strong economic fundamentals in the area (including population growth and job creation), it seems likely that any price declines would be relatively modest compared to other markets around the country