Provo-Orem, UT Federal Housing Finance Agency Home Price Index (FHFA HPI)

In the Provo-Orem, UT, Federal Housing Finance Agency (FHFA) house price index for the fourth quarter of 2019, the home equity and home prices both increased from the previous quarter. The home equity index rose to 95.6, while the home price index increased to 109.3.

Both measures are important when considering the health of the housing market in Provo-Orem and other areas. The home equity index is a measure of how much homeowners own outright of their homes' value. In other words, it's a measure of how much "equity" or ownership stake homeowners have in their homes. The higher the number, the more equity homeowners have in their homes. The home price index is a measure of how expensive homes are relative to other homes in different markets across the country. In this case, a higher number means that homes in Provo-Orem are more expensive than most other markets in the country.

So what do these two measures tell us about housing in Provo-Orem?

The first thing to note is that both measures have risen steadily over time. This is generally a good sign for housing markets, as it indicates that both prices and equity levels are increasing over time. This trend has been especially true in recent years; since 2016, both indexes have risen significantly (by about 20%). This suggests that housing conditions in Provo-Orem have been improving steadily over time and that now may be a good time to buy a home in this market.

Of course, it's also worth noting that both measures are still below their pre-recession peaks (from 2006/2007). This means that there is still some room for further growth before we reach those previous highs. However, given the current trends, it seems likely that we will reach those levels within the next few years.