Salisbury, MD-DE Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Salisbury, MD-DE, 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 Salisbury metropolitan statistical area. The HPI is a broad measure of the movement of single-family house prices and covers both new and existing houses. The HPI is constructed using data from Fannie Mae's Home Purchase Sentiment Index (HPSI) and Freddie Mac's Primary Mortgage Market Survey® (PMMS®).

The Salisbury metro area includes all of Wicomico County, Maryland and Sussex County, Delaware. In 2019, the population of the metro area was 474,401, an increase of 2.4% from 2018. The median home value in the metro area was $253,900 in 2019, an increase of 5.6% from 2018.

The FHFA HPI for Salisbury peaked in June 2006 at 243.7 and then declined steadily until bottoming out in March 2011 at 143.1. Since then, the index has been on an upward trend, reaching 188.8 in December 2019. This represents a gain of 32% from the bottom and is just shy of the pre-recession peak value.

Home values have been rising steadily since bottoming out in 2011 but have yet to reach their pre-recession peak levels seen in 2006. Despite this, equity levels have increased significantly as homeowners have paid down their mortgage balances while house prices have risen modestly over time. In 2019, the median home equity level was $145,100 which represented 58% equity stake for homeowners in the metro area