Visalia, CA Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Visalia, CA, 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 commonly used indices because it uses data on actual transactions rather than appraisals.

The HPI for Visalia shows that home prices have increased by 5.4% from the first quarter of 2017 to the first quarter of 2018. This is higher than the national average of 4.9%. However, it is important to note that this figure does not take into account inflation, which would need to be considered in order to get an accurate picture of real price growth.

Looking at home equity, we see that the average homeowner in Visalia has gained $16,752 in equity over the past year. This is an increase of 11.6%, which again is higher than the national average of 10%. Homeowners in Visalia have seen their equity grow at a faster rate than those in most other parts of the country over the past year.

There are several reasons why we might expect to see strong house price growth and home equity gains in Visalia. The economy in California has been doing well recently, with strong job growth and low unemployment levels. This has led to more people moving into the state, which increases demand for housing and drives up prices. Additionally, interest rates remain low by historical standards, making it cheaper for people to borrow money and buy a home.

Overall, we can see that both home prices and home equity levels are growing at a healthy pace in Visalia right now. This is good news for both current homeowners and those looking to buy a property in the area.