Riverside-San Bernardino-Ontario, CA Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Riverside-San Bernardino-Ontario, CA, 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 area. The HPI is a broad measure of home prices and covers both new sales and resales.

The Riverside-San Bernardino-Ontario HPI increased 1.3 percent from the first quarter of 2019 to the first quarter of 2020. This increase was driven by both rising home prices and an increase in home equity. Home prices in the Riverside-San Bernardino-Ontario area have been on the rise for several years, but the rate of increase has slowed in recent quarters. In the first quarter of 2020, the median sales price of a single-family home was $349,900, up 4.2 percent from a year earlier.

Home equity also increased during this time period, rising to an average of $231,000 per household in the first quarter of 2020. This is an increase of $16,000 from a year earlier and marks the fifth consecutive quarter of increases in home equity for Riverside-San Bernardino-Ontario homeowners. The combination of rising home prices and increasing equity has helped to boost confidence among Riverside-San Bernardino homeowners and has contributed to strong housing market activity in recent months.