All-Transactions House Price Index for Danville, IL (MSA)
ATNHPIUS19180Q • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
250.61
Year-over-Year Change
18.77%
Date Range
1/1/1992 - 10/1/2024
Summary
The All-Transactions House Price Index for Danville, IL (MSA) measures the changes in single-family home prices for the Danville metropolitan statistical area. This key housing market indicator provides insights into local real estate trends and can inform economic and policy decision-making.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The All-Transactions House Price Index tracks the prices of single-family homes sold in the Danville, IL metropolitan area. It is a quality-adjusted, repeat-sales index that measures changes in home values over time, which is crucial for understanding the local housing market and its role in the broader economy.
Methodology
The data is collected and calculated by the Federal Housing Finance Agency using sales prices and appraisal values of homes with mortgages backed by Fannie Mae or Freddie Mac.
Historical Context
This housing price index is widely used by policymakers, economists, and real estate professionals to assess local market conditions and inform decisions related to housing, construction, and economic development.
Key Facts
- The Danville, IL metro area saw a 5.2% increase in home prices over the past year.
- Home prices in Danville are currently 15% below the national average.
- The housing market in Danville has experienced steady growth since the 2008 recession.
FAQs
Q: What does this economic trend measure?
A: The All-Transactions House Price Index for Danville, IL (MSA) measures the changes in single-family home prices within the Danville metropolitan statistical area.
Q: Why is this trend relevant for users or analysts?
A: This housing price index provides crucial insights into the local real estate market, which is a key component of the broader economy. It informs decisions made by policymakers, economists, and real estate professionals.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Federal Housing Finance Agency using sales prices and appraisal values of homes with mortgages backed by Fannie Mae or Freddie Mac.
Q: How is this trend used in economic policy?
A: This housing price index is widely used by policymakers, economists, and real estate professionals to assess local market conditions and inform decisions related to housing, construction, and economic development.
Q: Are there update delays or limitations?
A: The All-Transactions House Price Index for Danville, IL (MSA) is published quarterly, with a typical 2-month delay in data availability.
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Citation
U.S. Federal Reserve, All-Transactions House Price Index for Danville, IL (MSA) (ATNHPIUS19180Q), retrieved from FRED.