US FHFA House Price Index: California
US FHFA House Price Index: California stood at 974.97 in Q2 2026, according to FRED (Federal Reserve Bank of St. Louis). It is one of the indicators in the FHFA house price index by region table (Value · Quarterly), with a complete series running from Q1 1975 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the FHFA house price index by region table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| National | 719.87 | 712.2 | 707.22 | 704.26 | 700.24 | 689.94 | 684.87 | 681.12 | 674.27 | 658.64 | |
| Pacific | 993.71 | 991.39 | 985.72 | 983.57 | 983.95 | 974.82 | 970.09 | 969.46 | 961.22 | 944.59 | |
| California | 974.97 | 975.22 | 969.38 | 967.57 | 968.26 | 959.78 | 958.47 | 955.87 | 947.01 | 932.24 |
Understanding US FHFA House Price Index: California
The California chart tracks single-family house rises and falls from real estate appearing multiple times in purchase or valuation data. Comparing identical homes limits biases from changing sold-housing compositions, but observation samples omit uniform coverage of cash deals, out-of-scope loans, or commercial real estate. Statewide series differ from Pacific regional indices by retaining California's unique dynamics, where coastal cities, interior regions, and high-end segments diverge widely.
Index movements should be understood as growth rates of qualifying observed price levels, not list or median prices. Year-on-year comparisons reduce seasonal noise; quarter-on-quarter comparisons suit spotting turning points, requiring caution for minor changes. Latest data is subject to revisions upon processing additional records, and history can shift post-model updates. Statewide indices can rise even if some localities fall, due to differing market weights and observation counts.
Frequently asked questions
- Does the California index separately reflect luxury homes?
- No, but segments with few mortgage records falling within the sample scope may be poorly represented.
- Why does index growth differ from median prices?
- Median prices are influenced by the mix of homes sold during the period, whereas repeat-sales indexes attempt to measure changes in the same assets.
- Should one use the state series or the regional series?
- The state series is suited for reading the California market; the regional series is useful when broader trends must be benchmarked and local noise reduced.