Walla Walla, WA Federal Housing Finance Agency Home Price Index (FHFA HPI)

In the Walla Walla, WA, Federal Housing Finance Agency (FHFA) house price index for the fourth quarter of 2019, the home equity and home prices both increased from the previous quarter. The home equity index rose from 6.4% to 6.5%, while the home price index increased from 0.8% to 1.0%.

The increase in home equity is due to a combination of factors, including an increase in home prices and a decrease in mortgage debt outstanding. The rise in home prices is being driven by strong demand for housing and limited supply of homes for sale. The decrease in mortgage debt outstanding is due to a combination of factors, including borrowers paying down their loans and lenders writing off delinquent loans as bad debts.

The rise in home prices is good news for homeowners with equity in their homes. Their homes are worth more than they were just a few months ago, and they have more options for borrowing against their equity or selling their homes if they choose to do so. However, the rise in prices also makes it more difficult for potential buyers to afford a home, which could eventually lead to slower sales growth and lower prices down the road.