Rome, GA Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Rome, GA, 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 covers single-family homes and condominiums. The HPI value for a particular geographic area is the weighted sum of the prices of all transactions in that area during a given period, divided by the number of transactions.

As of 2019 Q3, the HPI for Rome, GA was 176.711, up from 176.560 in 2018 Q3. Home equity in Rome increased during this time period as well. As of 2019 Q3, the average home equity in Rome was $159,900, up from $155,700 in 2018 Q3.

There are several reasons why home prices and home equity might have increased in Rome between 2018 Q3 and 2019 Q3. One reason could be population growth; as more people move to an area, demand for housing increases and prices rise accordingly. Another reason could be an increase in average incomes; as people earn more money they can afford to bid up prices for homes. Additionally, low interest rates make it cheaper to borrow money for a mortgage; this increases demand and drives up prices even further.

Whatever the reasons for rising home prices and home equity levels in Rome may be, it is clear that these trends are having positive effects on homeowners in the area. With home values increasing, homeowners are seeing their investment grow in value; at the same time, they are also building up equity that can be used later on if they need to sell or refinance their property. These trends suggest that now is a good time to own a home in Rome – both for those who already own one and those who are looking to purchase their first property