Macon-Bibb County, GA Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Macon-Bibb County, GA, Federal Housing Finance Agency (FHFA) House Price Index (HPI) is a weighted, repeat-sales index measuring average price changes in single-family houses with mortgages backed by Fannie Mae or Freddie Mac. The HPI value for any given quarter represents the change in house prices from the price of the same house during the previous quarter. For example, if a home sold for $100,000 in the first quarter of 2020 and then sold for $105,000 in the second quarter of 2020, that home would have an HPI value of 5.0% for that quarter.

The Macon-Bibb County HPI reached its peak value in the second quarter of 2007 at 165.6 and then declined steadily until bottoming out in the first quarter of 2011 at 107.1. Since then, there has been a gradual recovery, with values rising each year since 2011 except for a slight dip in 2013. As of the fourth quarter of 2019, the HPI had recovered to nearly its pre-recession level, reaching 161.8.

There are several factors that have contributed to both the housing market crash and subsequent recovery in Macon-Bibb County. The county's economy was hit hard by the recession, with unemployment reaching a high of 12% in 2010. However, since then there has been slow but steady economic growth, with unemployment falling to 4% by 2019. This has helped to increase demand for housing and put upward pressure on prices.

In addition, foreclosures have fallen sharply since their peak during the recessionary period. This is likely due to a combination of factors including stricter lending standards and an improving economy making it easier for homeowners to keep up with their mortgage payments. The decrease in foreclosures has helped to stabilize prices and reduce downward pressure on values.

Finally, there has been significant investment in downtown Macon over recent years which has helped to revitalize the city center and make it more attractive to residents and businesses alike. This investment has included new restaurants and shops opening up as well as renovations to historic buildings such as The Grand Opera House . The revitalization of downtown Macon is likely one factor that has helped increase demand for housing within city limits and contributed to rising prices county-wide .