Saginaw, MI Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Saginaw, MI, 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 timely measure of home price trends than other indices because it only uses data from closed loans.

As of December 2020, the HPI for Saginaw was 158.47, which is a 0.73% increase from December 2019.

Home equity is the portion of a homeowner's property that they own outright, free and clear of any liens or mortgages. In other words, home equity is the portion of your home that you would theoretically get to keep if you sold your house and paid off all debts associated with it (including the mortgage).

The value of your home equity can go up or down depending on two things: 1) changes in your home's market value and 2) how much debt you have against your home (i.e., your mortgage balance). If either of these two things increases, your home equity will increase; if either decreases, your home equity will decrease.

In Saginaw, MI, both median sale prices and average list prices have increased in recent years while the number of homes sold has decreased slightly. This trend is typical when housing markets are beginning to recover from a recessionary period as we are currently experiencing nationally. Despite this overall trend in our region's housing market, there remains significant variation among individual neighborhoods within Saginaw County. Some areas have seen large increases in values while others have experienced more modest gains or even slight decreases over the past few years