Sierra Vista-Douglas, AZ Federal Housing Finance Agency Home Price Index (FHFA HPI)

In the Sierra Vista-Douglas, AZ, Federal Housing Finance Agency (FHFA) house price index (HPI), home equity and home prices are both represented. Home equity is the portion of a property's value that is owned by the homeowner, while home prices represent the total value of a property.

The HPI is based on data from Fannie Mae and Freddie Mac, which purchase mortgages from lenders and package them into securities for sale to investors. The HPI includes all single-family properties with a mortgage that were purchased by Fannie Mae or Freddie Mac from January 1, 2000 through December 31, 2016.

In the Sierra Vista-Douglas metro area, home equity increased from 2000 to 2006, before declining during the housing market crash of 2007-2009. Home prices also declined during this time period. However, since 2010 both home equity and home prices have been on the rise. As of 2016, home equity in the Sierra Vista-Douglas metro area was $145,842 and home prices were $206,977.

The relationship between home equity and home prices can be seen in the following graph: