US house prices up 0.3% in July and 2.6% on the year, FHFA says; Mountain states down 0.8%

The Federal Housing Finance Agency published its House Price Index for July on 29 September.

The national numbers

US house prices rose 0.3% in July from June on the seasonally adjusted, purchase-only index, and 2.6% from July 2025. The previously reported 0.0% movement for June was left unchanged.

By region

Across the nine census divisions, monthly changes ran from -0.8% in the Mountain division to +1.5% in the Middle Atlantic. Twelve-month changes ranged from +0.6% in the Mountain division to +6.3% in the Middle Atlantic. The release gives the range, not a division-by-division table.

What the index is

The FHFA HPI is built with a weighted, repeat-sales method on tens of millions of home sales, with data back to the mid-1970s across all 50 states and more than 400 cities. It is published at national, division, state, metro, county, ZIP-code and census-tract level.

The flagship monthly index uses seasonally adjusted, purchase-only data from mortgages bought by Fannie Mae and Freddie Mac. FHFA's other indexes add refinances, FHA-insured loans and property records.

FHFA regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks, which it says provide more than $8.7 trillion in funding for US mortgage markets.

The next release is due on 27 October and will cover data through August.