About the Data

The housing price data presented on this site comes from the OFHEO and is public domain information. We convert it to chart form as we believe that it's easier to see what's happening in the individual metropolitan areas. The remainder of this page will provide more info about who compiles the data what it really means, . . . etc.

Who is the OFHEO?

The Office of Federal Housing Enterprise Oversight (OFHEO) was established as an independent entity within the Department of Housing and Urban Development by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (Title 13 of P.L. 102-550). The OFHEO's primary mission is ensuring the capital adequacy and financial safety and soundness of two government-sponsored enterprises (GSEs) -- the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

What Data Does the OFHEO Provide

The OFHEO compiles a quarterly Housing Price Index (HPI). The index is a weighted repeat sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. This information is obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac since January 1975. As of Q4 2005, the HPI was based on 29.31 million transaction over a 30 year period. The index covers properties up to $333,700 in loan size.

It should be noted that the HPI is NOT presented in dollars. The data for the MSA's are normalized to the first quarter of 1995. That is, the HPI equals 100 for all MSAs in the first quarter of 1995. If the metropolitan area appreciates 3% the next quarter's HPI will be 103. The HPI charts on this site show the HPI's since 1995 which shows the effects of house price appreciation/depreciation over that time frame.

For more information regarding the OFHEO or the HPI index visit the OFHEO.