Ocala, FL Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Ocala, FL, Federal Housing Finance Agency (FHFA) House Price Index (HPI) is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same properties. The index was created in order to be a more timely measure of home price changes than other indices because it relies on data from mortgage transactions.

In general, home prices in the Ocala area have been increasing since the FHFA HPI began tracking data in 1991. However, there have been some fluctuations during that time period. For example, home prices dipped during the housing market crash of 2008 but have since rebounded and continued to rise.

As of September 2019, the FHFA HPI for the Ocala area was 176.7, which means that home prices have increased 76.7% since January 1991 when the base value was set at 100.0. Comparing this to other areas in Florida and across the country, Ocala's housing market has performed relatively well over time.

There are several factors that contribute to rising home prices in Ocala and other areas. One is population growth; as more people move into an area, there is more demand for housing which drives up prices. Another factor is inflation; as costs for building materials and labor increase over time, so do home prices. Additionally, low interest rates make buying a home more affordable for many people and can lead to bidding wars and higher prices for properties.

The current trend of rising home prices is not expected to change anytime soon in Ocala or elsewhere; according to Realtor magazine's 2019 Housing Forecast report, experts expect national median home prices to increase by 4% next year while inventory remains tight due to ongoing construction delays and lot shortages across the country