Tampa-St. Petersburg-Clearwater, FL Federal Housing Finance Agency Home Price Index (FHFA HPI)

In the Tampa-St. Petersburg-Clearwater, FL, Federal Housing Finance Agency (FHFA) house price index for the fourth quarter of 2019, the home equity and home prices were $186,900 and $188,100 respectively. The FHFA house price index is a weighted, repeat-sales index that tracks changes in single-family home prices. The index covers sales of existing homes and does not include new construction.

The fourth quarter 2019 FHFA house price index report showed that home equity in the Tampa-St. Petersburg-Clearwater area increased by $1,200 from the previous quarter and by $5,700 from one year earlier. Home prices in the area increased by $600 from the previous quarter and by $8,000 from one year earlier.

According to the report, both home equity and home prices are still below their pre-recession peaks. In the fourth quarter of 2019, home equity was 14 percent below its peak value in the second quarter of 2006 while home prices were 10 percent below their peak value in late 2005 / early 2006. Despite this overall trend, there have been some quarters where values have risen above previous peaks – most recently in late 2017 / early 2018 for both measures.