Nationwide, house prices rose 18.2% between January 2021 and January 2022, with home prices up 1.6% between December 2021 and January 2022, according to the latest FHFA House Price Index.
“Rising mortgage rates in January certainly reflect a major change from the past several years, but lending costs remain relatively low,” said Will Doerner, supervisory economist in FHFA’s Division of Research and Statistics. “The mortgage rate shift has not dampened upward price pressure from intense borrower demand and limited supply.”
For the nine census divisions, seasonally adjusted monthly house price changes from December 2021 to January 2022 ranged from +0.1% in the New England division to +2.2% in the South Atlantic division, while the 12-month changes ranged from +13.3% in the Middle Atlantic division to +23.1% in the Mountain division, according to the House Price Index.
The HFA will release its next HPI report in April, with monthly data through February 2022.