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The Freddie Mac House Price Index (FMHPI) offers a detailed look into the changing property values across major U.S. cities, including Austin. Tracking data from January 2020 through 2024, the report examines year-over-year and month-over-month changes, with highlights of both peak growth and recent corrections in markets like Atlanta, Baltimore, Boston, and notably, Austin.

Austin stands out for its rapid appreciation and subsequent corrections. From January 2020 to May 2022, Austin’s house prices increased by 40.8%, reflecting strong growth in property values. However, the market later saw a significant adjustment, with a 15.5% decrease from peak values, illustrating Austin’s volatility compared to other cities in the FMHPI report. This shift reflects broader trends in Austin’s housing market, where rapid appreciation has been followed by recent price softening as conditions stabilize.

In contrast, Atlanta experienced a more steady upward trajectory, with property values increasing by 63.4% from January 2020 to July 2024. Atlanta saw only a minor correction of 0.4% from peak prices, suggesting a more gradual approach to stabilization compared to Austin’s market fluctuations. Baltimore has shown similar steady growth, with a 43.9% appreciation in property values over the same period and a small decline of 0.2% from peak prices.

Boston also displayed one of the most robust growth trends, with property values up by 49% from 2020. Despite a recent dip of 0.2% from its highest values, Boston remains one of the stronger markets in terms of growth. Charlotte and Chicago follow this pattern, with Charlotte’s house prices increasing by 69.5% and Chicago by 46.9% since January 2020. Both cities have seen slight corrections recently, with Charlotte down by 1% and Chicago by 0.4% from their respective peaks.

Several other cities, including Cleveland, Cincinnati, and Columbus, demonstrate similar trends of appreciation and recent stabilization. Cleveland has seen a steady 58.6% rise in house prices since January 2020, with only a 0.2% correction from peak levels. Cincinnati’s growth is even stronger, with a 60.7% increase, while Columbus closely follows at 58.5%.

Overall, the Freddie Mac House Price Index highlights the dynamic nature of the U.S. housing market from 2020 to 2024. Cities like Austin showcase the volatility that can occur following rapid growth, while markets such as Atlanta, Baltimore, and Boston reflect steady appreciation with minor recent adjustments. These trends offer valuable insights for buyers, sellers, and investors, helping them make informed decisions in a shifting economic landscape.