Understanding the Freddie Mac House Price Index (FMHPI®)
The Freddie Mac House Price Index (FMHPI®) provides a precise month-by-month measure of U.S. home price trends by tracking repeat sales of the same properties, offering a more accurate benchmark than average or median pricing. Updated through October 2025 and released on November 28, the index shows that national home values remain approximately 27% above pre-2020 levels, reflecting sustained market stability. In contrast, Austin has declined 18.5% from its May 2022 peak, nearly four times deeper than the national average pullback, and continues to lead all major U.S. metros in both year-over-year and month-over-month pricing declines.
Understanding the Freddie Mac House Price Index (FMHPI®) and Its Impact on the Austin Housing Market – November 2025 Update
Scroll down to view the full Freddie Mac House Price Index report for November 2025.
The latest Freddie Mac House Price Index confirms that Austin is experiencing the most severe home price correction of any major U.S. housing market. Values are down 18.5 percent from the May 2022 peak—nearly four times deeper than the national average decline—and are currently 7.0 percent below last year. Prices also decreased 4.4 percent month over month, while most major metros recorded slight gains, resulting in the weakest monthly performance nationwide. Since January 2020, Austin’s cumulative appreciation stands at 35.4 percent, falling behind markets such as Miami and Charlotte, which have exceeded 60 percent growth over the same period. In contrast, the national trend shows year-over-year appreciation of 4.4 percent and month-over-month gains of 0.62 percent, indicating stabilization elsewhere while Austin remains in an active contraction phase
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