Rocky Mount, NC Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Rocky Mount, NC, 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 accurate measure of house price changes than the commonly used Case-Shiller Index.

The HPI for Rocky Mount is currently at 97.8, which means that home prices have decreased by 2.2% since the index was created. This is a significant decrease from the peak of the housing market in 2006, when home prices were at their highest point in recent history. However, it is important to note that Rocky Mount was not as affected by the housing market crash as other parts of the country; while prices did decline, they did not do so as dramatically as in other areas.

There are several factors that contribute to the current state of the housing market in Rocky Mount. One is population growth; as more people move into the area, there is increased demand for housing, which drives up prices. Another factor is job growth; as more jobs are created in Rocky Mount, more people are able to afford homes. Additionally, interest rates play a role; when interest rates are low, it makes buying a home more affordable for potential buyers.

It is difficult to predict what will happen to home prices in Rocky Mount in the future; however, if population and job growth continue at their current rates, it is likely that prices will continue to increase.