Sioux Falls, SD Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Sioux Falls, SD, 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 with mortgages owned or securitized by Fannie Mae or Freddie Mac.

As of December 2020, the Sioux Falls HPI was up 5.8% from a year earlier and up 1.2% from the previous quarter. Home prices in Sioux Falls have been rising steadily for several years, but the pace of appreciation has picked up in recent months.

The strong housing market in Sioux Falls is being driven by a number of factors, including low mortgage rates, a tight housing supply, and population growth. The area's economy is also doing well, with job growth and wages both rising.

All of these factors are contributing to strong demand for housing in Sioux Falls and limited supply. This is resulting in healthy price increases for both existing homes and new construction.