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Seasonal Uptick Returns National House Prices to Near-Peak Levels, According to First American Data & Analytics Monthly Home Price Index Report

FAF
  • First American Data & Analytics released its April 2026 Home Price Index (HPI) report showing a 0.2% month-over-month increase & a 0.0% year-over-year change for the national non-seasonally adjusted index.
  • Annual house price appreciation remained below 1% for the eighth consecutive month in April 2026.
  • February to March 2026 growth was revised upward by 0.3 percentage points to +0.6%.
  • Chief Economist Mark Fleming stated that spring demand provides a modest lift, though national prices remain just shy of last May's peak due to a balance of affordability, inventory, & demand.
  • Regional divergence is a defining market feature, with 21 of the top 30 tracked markets posting flat or below year-ago price levels despite gains in some Midwestern & Northeastern areas.
  • The spread between the strongest market (Chicago at +9.6% relative to the weakest) & the weakest market (Austin, Texas) highlights localized conditions.
  • St. Louis led starter tier price growth with an 8.0% year-over-year increase, followed by Cambridge, Mass. at +5.3% & Chicago at +3.1%.
  • Chicago recorded the highest overall national HPI increase at +4.4%, while Cambridge, Mass. & St. Louis followed with +3.8% & +2.9% respectively.
  • Austin, Texas recorded the largest annual decline at -5.2%, followed by Houston (-4.8%), Oakland, Calif. (-4.1%), Tampa, Fla. (-3.2%), & San Antonio (-2.9%).
  • The HPI uses a repeat-sales methodology based on over 46 million paired transactions & tracks price changes less than four weeks behind real time.
  • The next HPI report is scheduled for release during the week of June 22, 2026.