Montgomery County-Bucks County-Chester County, PA (MSAD) Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Montgomery County-Bucks County-Chester County, PA Federal Housing Finance Agency (FHFA) house price index (HPI) was created to provide a more comprehensive measure of house price changes in the U.S. than what is available through other data sources. The HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. The HPI covers single-family houses; townhouses, condominiums, and co-ops are excluded.

As of the most recent data release (Q3 2020), the Montgomery County-Bucks County-Chester County FHFA HPI was at 243.6, up 2% from Q2 2020 and up 6% from one year ago (Q3 2019). This means that home prices in the area have increased at a slightly faster pace than the national rate of home price growth over the past year. However, on a quarter-over-quarter basis, home prices in the area have grown at a slower pace than the national rate of growth.

The Montgomery County-Bucks County-Chester County FHFA HPI is based on data from Freddie Mac and Fannie Mae's Home Price Index (HPI) database. The database covers sales transactions on one-to four-unit properties with mortgages owned or securitized by Freddie Mac or Fannie Mae since January 1975.