{"id":10796,"date":"2023-06-03T16:08:55","date_gmt":"2023-06-03T21:08:55","guid":{"rendered":"https:\/\/www.framingham.com\/news\/?p=10796"},"modified":"2023-06-03T16:15:40","modified_gmt":"2023-06-03T21:15:40","slug":"framingham-area-home-prices-rise-faster-than-national-average","status":"publish","type":"post","link":"https:\/\/www.framingham.com\/news\/2023\/06\/03\/business\/framingham-area-home-prices-rise-faster-than-national-average\/","title":{"rendered":"Framingham Area Home Prices Rise Faster Than National Average"},"content":{"rendered":"\n<p><strong>FRAMINGHAM, MA<\/strong> - According to a <strong>Federal Housing Finance Agency<\/strong> House Price Index (FHFA HPI\u00ae) <a rel=\"noreferrer noopener\" href=\"https:\/\/www.fhfa.gov\/AboutUs\/Reports\/ReportDocuments\/HPI_2023Q1.pdf\" target=\"_blank\">report<\/a> U.S. house prices rose 4.3 percent in the year between the first quarter of 2022 and 2023 Q1.  <\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"871\" height=\"413\" src=\"https:\/\/www.framingham.com\/news\/wp-content\/uploads\/2023\/06\/2023-2013-fhfa-us-home-prices-q1-ytd.jpg\" alt=\"\" class=\"wp-image-10797\" srcset=\"https:\/\/www.framingham.com\/news\/wp-content\/uploads\/2023\/06\/2023-2013-fhfa-us-home-prices-q1-ytd.jpg 871w, https:\/\/www.framingham.com\/news\/wp-content\/uploads\/2023\/06\/2023-2013-fhfa-us-home-prices-q1-ytd-300x142.jpg 300w, https:\/\/www.framingham.com\/news\/wp-content\/uploads\/2023\/06\/2023-2013-fhfa-us-home-prices-q1-ytd-150x71.jpg 150w, https:\/\/www.framingham.com\/news\/wp-content\/uploads\/2023\/06\/2023-2013-fhfa-us-home-prices-q1-ytd-768x364.jpg 768w\" sizes=\"auto, (max-width: 871px) 100vw, 871px\" \/><\/figure>\n\n\n\n<p>While U.S. home prices are still rising, the increase from 2022 Q1 to 2023 Q1 were nowhere near the jump seen in the previous year <em>(2021 Q1 to <strong>2022 Q1<\/strong>)<\/em> which at <strong>18.8%<\/strong> was the <strong>highest gain in the previous ten years<\/strong>.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Framingham faired well compared to national price increases.  Homes in the<strong> Framingham<\/strong> which are included in the agencies \"<em>Cambridge-Newton-Framingham<\/em>\" Metropolitan Statistical Area rose<strong> 6.18%<\/strong>.  <\/p>\n\n\n\n<p>The same report showed a nearly <strong>57% increase<\/strong> in prices for area homes over past <strong>5 years<\/strong>.<\/p>\n\n\n\n<p>During the pandemic when low interest rates were at near record lows, and people forced to stay home  desired to buy newer or larger homes driving up home prices up, the <strong>primary factor today is a lack of inventory<\/strong> in the single family home market.<\/p>\n\n\n<figure style=\"width:0px;height:0px;\" class=\"wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"175\" height=\"105\" src=\"https:\/\/www.framingham.com\/news\/wp-content\/uploads\/2023\/06\/2023-2013-fhfa-us-home-prices-q1-ytd-175x105.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" style=\"height:0px;object-fit:cover;\" \/><\/figure>\n\n\n<p class=\"has-text-align-center\">###<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FRAMINGHAM, MA &#8211; According to a Federal Housing Finance Agency House Price Index (FHFA HPI\u00ae) report U.S. house prices rose 4.3 percent in the year between the first quarter of 2022 and 2023 Q1. While U.S. home prices are still rising, the increase from 2022 Q1 to 2023 Q1 were nowhere near the jump seen in the&#8230; <a href=\"https:\/\/www.framingham.com\/news\/2023\/06\/03\/business\/framingham-area-home-prices-rise-faster-than-national-average\/\">[read more]<\/a>.<\/p>\n","protected":false},"author":1,"featured_media":10797,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,20],"tags":[5077,1866,5076,1631],"class_list":["post-10796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-home-garden","tag-framingham-home-prices","tag-framingham-real-estate","tag-home-prices","tag-real-estate"],"_links":{"self":[{"href":"https:\/\/www.framingham.com\/news\/wp-json\/wp\/v2\/posts\/10796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.framingham.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.framingham.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.framingham.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.framingham.com\/news\/wp-json\/wp\/v2\/comments?post=10796"}],"version-history":[{"count":4,"href":"https:\/\/www.framingham.com\/news\/wp-json\/wp\/v2\/posts\/10796\/revisions"}],"predecessor-version":[{"id":10802,"href":"https:\/\/www.framingham.com\/news\/wp-json\/wp\/v2\/posts\/10796\/revisions\/10802"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.framingham.com\/news\/wp-json\/wp\/v2\/media\/10797"}],"wp:attachment":[{"href":"https:\/\/www.framingham.com\/news\/wp-json\/wp\/v2\/media?parent=10796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.framingham.com\/news\/wp-json\/wp\/v2\/categories?post=10796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.framingham.com\/news\/wp-json\/wp\/v2\/tags?post=10796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}