Topeka, KS Federal Housing Finance Agency Home Price Index (FHFA HPI)

As of September 2020, the Topeka, KS, Federal Housing Finance Agency (FHFA) house price index was 154.4. This is a 0.8% increase from the August 2020 index of 153.3 and a 4.7% increase from the September 2019 index of 147.9. The FHFA house price index is a measure of home prices in the United States that is published monthly by the Federal Housing Finance Agency.

The FHFA house price index for Topeka, KS, showed a slight increase from August to September 2020, but a more significant increase from September 2019 to September 2020. Home prices in Topeka have been on the rise since at least 2015, when the FHFA began tracking this data point specifically for this city.

There are several possible explanations for why home prices have been increasing in Topeka over the past few years. One possibility is that there has been an influx of people moving to the city due to job opportunities or other factors such as quality of life. This increased demand for housing could lead to higher prices as buyers compete for available homes on the market. Another possibility is that low interest rates make buying a home more affordable and therefore increase demand even further; when demand is high and there are more buyers than sellers, prices will naturally go up as sellers can be more selective about who they sell to and can command a higher price point than they would in a buyer’s market where there are more homes available than there are buyers interested in purchasing them. Additionally, it’s worth noting that Kansas generally has seen increases in home values over time; according to Zillow data, statewide median home values have gone up nearly 8% since 2016 while nationwide median home values have only increased by about 5% over that same time period . So it’s possible that some of the increases we’re seeing specifically in Topeka may be due to these larger trends taking place across Kansas as well as nationally .

Whatever the reasons may be behind rising home prices in Topeka specifically , it’s clear that if you’re thinking about buying a home here , you should expect to pay more than you would have just a few years ago . If you already own a home here , your equity has likely gone up along with property values ; if you plan on selling soon , now may be a good time to do so while prices are still relatively high . However , it’s also worth considering whether now may be an opportune moment to refinance your mortgage given today’s low interest rates ; depending on your individual circumstances , this could save you money each month or help you pay off your mortgage sooner than you otherwise would have been able .