Fannie Mae's Home Price Index (FNM-HPI) indicated that single-family home prices increased by 5.9% from Q3 2023 to Q3 2024. This growth rate represents a deceleration compared to the previous quarter's downwardly revised annual growth rate of 6.4%.
On a quarterly basis, home prices rose by a seasonally adjusted 1.4% in Q3 2024. The FNM-HPI measures the average, quarterly price change for all single-family properties in the United States, excluding condos.
The data suggests a continued, albeit slower, appreciation in home values, which is generally favorable for Fannie Mae's mortgage portfolio by supporting collateral. This trend influences the company's credit risk assessments and overall market stability.
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