Yuma, AZ Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Yuma, AZ, 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 the existing Case-Shiller Index.

As of December 2020, the FHFA HPI for Yuma was 225.3, up from 224.8 in November 2020 and up from 217.0 in December 2019. This represents a year-over-year increase of 3.9%.

Looking at home equity, as of Q3 2020, homeowners in Yuma had an average equity stake of $137,000 per property, up from $134,000 in Q2 2020 and up from $131,000 in Q3 2019. This represents an increase of 2% quarter-over-quarter and 5% year-over-year. Homeowners in Yuma have seen their equity stakes grow steadily over the past few years as home prices have increased.

With regards to home prices specifically, the median home price in Yuma was $269,900 as of December 2020, up from $267,500 in November 2020 and up from $259,900 in December 2019. This represents a year-over-year increase of 3%. Home prices have been on the rise since bottoming out during the housing market crash and subsequent recession back in 2009/2010. They have been rising steadily since then with only occasional dips along the way such as during 2017 when there was a slight decrease due to Hurricane Harvey impacting Texas which led to an influx of people relocating to Arizona (including Yuma).