Portland-South Portland, ME Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Portland-South Portland, ME, 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 metropolitan statistical area. The HPI is a broad measure of the movement of single-family house prices and covers both new and existing houses.

The FHFA HPI for Portland-South Portland, ME was 195.874 in December 2020, up 0.9 percent from November and up 6.1 percent from December 2019. This was the fourth consecutive month of positive year-over-year growth and the largest annual increase since August 2018. On a monthly basis, prices have risen for six consecutive months and are now at their highest level since February 2020.

Home equity in the Portland-South Portland metro area increased by $2.4 billion in 2020 to reach $54.7 billion, according to CoreLogic's Home Equity Report released today. This marks an increase of 4.6 percent from 2019 and is the largest annual gain since 2005 when home equity rose by $3 billion or 7 percent year over year. The total number of mortgaged homes in the metro area increased by 1,872 properties during 2020 while the number of foreclosures decreased by 942 properties over the same period