Federal Housing Finance Agency Home Price Index (FHFA HPI):

Sumter, SC Federal Housing Finance Agency Home Price Index (FHFA HPI)

Sumter, SC is a Federal Housing Finance Agency home price index that comprises the county of Sumter County. Its most recent index value is 229.71.

Sumter, SC Housing Market: Real Estate Trends & House Price Index

The Sumter, SC, 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 accurate measure of house price changes than other methods, such as the Case-Shiller Index.

The Sumter HPI showed strong growth from 2000 to 2006, with prices increasing by over 50%. However, prices then fell sharply during the housing market crash of 2007-2008, and have not yet recovered to their pre-crash levels. As of 2016, the Sumter HPI is still about 20% below its peak value.

Home equity is the portion of a home's value that is owned outright by the homeowner. It can be used as collateral for a loan or line of credit, and it increases in value as the property appreciates. In Sumter County, home equity values have followed a similar pattern to home prices overall. After reaching a peak in 2006, they declined sharply during the housing market crash and have not yet recovered to their previous levels.

The relationship between home equity and house prices is an important one for both homeowners and lenders. When home values are rising rapidly, homeowners can build up significant equity in their property even if they don't make any additional payments on their mortgage. This can give them a cushion against future financial difficulties or allow them to borrow against their equity for other purposes. For lenders, rapid appreciation in home values means that loans are less likely to go into default because borrowers will have built up enough equity that they can sell the property if necessary to repay the loan.

Price Index: Sumter, SC

Cities in Sumter, SC

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Zip codes in Sumter, SC

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