what is the house price index hpi 
the house price index hpi is a broad measure of the movement of single family property prices in the united states the hpi is published and updated by the federal housing finance agency fhfa aside from serving as an indicator of house price trends the hpi also functions as an analytical tool for estimating changes in the rates of mortgage defaults prepayments and housing affordability understanding the house price index hpi the hpi is pieced together by the fhfa data is compiled by the fhfa using information supplied by the federal national mortgage association typically known as fannie mae and the federal home loan mortgage corporation commonly known as freddie mac 1the hpi is based on transactions involving conventional and conforming mortgages on single family properties it is a weighted repeat sales index measuring average price changes in repeat sales or refinancings on the same properties 1an hpi report is published every quarter in addition to a monthly report data is compiled by reviewing mortgages purchased or securitized by fannie mae and freddie mac 2the increase in the hpi in april 2024 from the previous month home prices increased 6 3 on an annual basis from april 2023 3