Vineland-Bridgeton, NJ Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Federal Housing Finance Agency (FHFA) house price index for Vineland-Bridgeton, NJ, showed a slight decrease in home prices from the fourth quarter of 2017 to the first quarter of 2018. However, home prices are still up significantly from where they were just a few years ago.

In the fourth quarter of 2017, the median sales price for a home in Vineland-Bridgeton was $142,000. In the first quarter of 2018, that number decreased to $140,000. While this is a small decrease, it is important to remember that home prices are still much higher than they were just a few years ago. In fact, since bottoming out in early 2012, home prices in Vineland-Bridgeton have increased by more than 50%.

One reason why home prices have increased so much in recent years is because of the strong demand for housing. The population in Vineland-Bridgeton has been growing steadily for several years now and there are simply not enough homes available to meet the demand. This has caused prices to increase as buyers compete for limited inventory.

Another factor that has contributed to rising home prices is low interest rates. Mortgage rates are currently at historic lows and this has made buying a home more affordable for many people. As interest rates rise, we could see some slowdown in price growth as buyers become less willing or able to pay high prices for homes.

Overall, the FHFA house price index shows that home values in Vineland-Bridgeton are still on the rise despite some recent softening in the market. With strong population growth and low mortgage rates expected to continue into 2018, we could see further increases in median sales prices throughout the year.