North Port-Sarasota-Bradenton, FL Federal Housing Finance Agency Home Price Index (FHFA HPI)

The North Port-Sarasota-Bradenton, FL, Federal Housing Finance Agency (FHFA) house price index (HPI) is a weighted, repeat-sales index measuring average price changes in single-family houses in the metro area. The HPI is a valuable tool for tracking house prices at the local level over time.

Since its inception in 1975, the HPI has shown that house prices in the North Port-Sarasota-Bradenton metro area have increased steadily. In recent years, however, there has been a sharp increase in home prices in the area. Between 2012 and 2016, home prices increased by more than 50%. This rapid increase in home prices has led to concerns about a potential housing bubble.

There are several factors that have contributed to the sharp increase in home prices in the North Port-Sarasota-Bradenton metro area. First, there has been strong population growth in the area. Between 2010 and 2016, the population of Sarasota County grew by more than 8%. This population growth has led to increased demand for housing. Second, job growth in the region has been strong. Between 2010 and 2016, Sarasota County added more than 40,000 jobs. This job growth has helped to support increased demand for housing. Finally, limited supply of available homes for sale has also contributed to rising home prices. The number of homes available for sale in Sarasota County is down sharply from its peak during the housing crisis. Inventories of existing homes for sale are currently at historic lows.

The combination of strong population growth, job growth, and limited supply of available homes has resulted in a sharp increase in home prices across the North Port-Sarasota-Bradenton metro area. While this rapid appreciation may be concerning to some observers, it is important to remember that this appreciation is coming off of very low levels. Home values are still well below their pre-recession peaks across much of the region. For example, median home values in Sarasota County are still more than 20% below their peak levels from 2006/2007