Oshkosh-Neenah, WI Federal Housing Finance Agency Home Price Index (FHFA HPI)

In the fourth quarter of 2019, the Oshkosh-Neenah, WI, Federal Housing Finance Agency (FHFA) house price index (HPI) was 154.1. This is a 0.8 percent increase from the third quarter of 2019 and a 4.7 percent increase from the fourth quarter of 2018. The FHFA HPI is calculated using home sales price information from Fannie Mae and Freddie Mac single-family mortgage loans.

The Oshkosh-Neenah metro area’s HPI value has been on an upward trend since bottoming out at 136.4 in the first quarter of 2011. However, it is still below its pre-recession peak of 161.3 in the second quarter of 2007. From 2007 to 2011, home prices in the metro area fell by 11 percent.

The rise in home prices has been driven by a number of factors, including low interest rates, a tight housing market with limited inventory, and strong economic growth. The metro area’s unemployment rate was 2 percent in December 2019, well below the national rate of 3.5 percent and down from 2.9 percent a year earlier. Job growth has been strong in recent years, averaging 2 percent annually over the past five years. Population growth has also contributed to demand for housing as more people move to the metro area for work or other reasons.

The combination of these factors has led to increased competition for homes and bidding wars in some cases, which has pushed prices up further. The median sale price for a home in Oshkosh-Neenah was $170,000 in 2019, up 5 percent from 2018 and 14 percent from 2017 levels .

Looking ahead, it is unclear how long this trend will continue or how much further prices will rise before they reach a plateau or begin to decline again . However , as long as interest rates remain low , economic growth continues , and there is not a significant increase in new construction , it is likely that prices will continue to rise at least modestly over the next year or two .