Nashville-Davidson--Murfreesboro--Franklin, TN Federal Housing Finance Agency Home Price Index (FHFA HPI)

In the Nashville-Davidson--Murfreesboro--Franklin, TN, Federal Housing Finance Agency (FHFA) house price index for the fourth quarter of 2019, the home equity and home prices were both up from the previous quarter. The home equity index was at 103.7, up from 102.9 in the third quarter, while the home price index was at 166.3, up from 164.8 in the third quarter.

The increase in home equity is due to a number of factors, including an increase in home prices and a decrease in mortgage rates. The average 30-year fixed mortgage rate was 3.75% in the fourth quarter of 2019, down from 4.23% in the third quarter. This decrease in mortgage rates has helped to increase home values and equity levels across the United States.

In addition to increasing home values, the Nashville-Davidson--Murfreesboro--Franklin metro area has also seen an increase in population growth over the past few years. This population growth is due to a number of factors, including an influx of people moving to the area for work opportunities and retirees moving to the area for its warm climate and low cost of living. This population growth has helped to drive up demand for housing, which has further contributed to increases in home values and equity levels