HPI (2025)FHFA
324
State Series · West Region
Home Price History in California
FHFA all-transactions House Price Index for the state of California — annual data, 1975 through 2025, rebased to 100 in the year 2000.
YoY changeFHFA
+0.8%
5-yr changeFHFA
+40%
Since 2000FHFA
+224%
California's FHFA all-transactions House Price Index runs from 1975 through 2025. The state-level HPI, rebased to 100 in 2000, stood at 324.1 at the latest reading. Cumulative nominal appreciation since 2000: +224.1%.
The 2007–2011 housing crisis cut the California HPI by 41.1% peak-to-trough — from 228.9 in 2006 to 134.8 in 2012. The U.S. national HPI fell roughly 21% over the same window, so California's drawdown was more severe than the national average.
The pandemic-era surge brought California's HPI from 226.7 in 2019 to 324.1 in 2025 — a +43.0% cumulative gain in 6 years, running near the national pace.
California sits in the West census region of the United States. Long-run state-level home-price appreciation reflects regional employment patterns, in-migration flows, and supply constraints. State-level FHFA series can mask significant intra-state divergence — see the linked metro pages below for sub-state breakdowns where available.
Metros in California covered by The Housing Almanac:
- Los Angeles (national rank #2)
- Riverside–San Bernardino (national rank #12)
- San Francisco (national rank #13)
- San Diego (national rank #18)
- Sacramento (national rank #26)
- San Jose (national rank #35)
- Fresno (national rank #55)
- Bakersfield (national rank #61)
For the U.S. national context, see the national median price history or browse all 50 states.
Annual data — California
FHFA House Price Index, 2000=100. Annual data; not seasonally adjusted. Source: U.S. Federal Housing Finance Agency.
| Year | HPI (2000=100) | YoY change |
|---|---|---|
| 2025 | 324.12 | +0.75% |
| 2024 | 321.70 | +4.36% |
| 2023 | 308.25 | +1.81% |
| 2022 | 302.76 | +15.85% |
| 2021 | 261.33 | +12.72% |
| 2020 | 231.85 | +2.29% |
| 2019 | 226.66 | +3.25% |
| 2018 | 219.53 | +6.45% |
| 2017 | 206.23 | +6.44% |
| 2016 | 193.75 | +7.76% |
| 2015 | 179.79 | +5.78% |
| 2014 | 169.96 | +14.07% |
| 2013 | 149.00 | +10.50% |
| 2012 | 134.84 | -0.27% |
| 2011 | 135.20 | -5.94% |
| 2010 | 143.74 | -3.34% |
| 2009 | 148.70 | -15.20% |
| 2008 | 175.35 | -19.76% |
| 2007 | 218.54 | -4.54% |
| 2006 | 228.94 | +10.47% |
| 2005 | 207.25 | +25.97% |
| 2004 | 164.52 | +20.86% |
| 2003 | 136.13 | +9.91% |
| 2002 | 123.86 | +10.52% |
| 2001 | 112.07 | +12.07% |
| 2000 | 100.00 | +14.10% |
| 1999 | 87.64 | +6.57% |
| 1998 | 82.24 | +8.11% |
| 1997 | 76.07 | +2.58% |
| 1996 | 74.16 | -0.23% |
| 1995 | 74.33 | -2.72% |
| 1994 | 76.41 | -3.16% |
| 1993 | 78.90 | -5.20% |
| 1992 | 83.23 | -1.82% |
| 1991 | 84.77 | -0.57% |
| 1990 | 85.26 | +6.43% |
| 1989 | 80.11 | +22.68% |
| 1988 | 65.30 | +16.84% |
| 1987 | 55.89 | +8.57% |
| 1986 | 51.48 | +5.97% |
| 1985 | 48.58 | +5.52% |
| 1984 | 46.04 | +3.09% |
| 1983 | 44.66 | +9.78% |
| 1982 | 40.68 | -6.74% |
| 1981 | 43.62 | +9.96% |
| 1980 | 39.67 | +16.37% |
| 1979 | 34.09 | +16.63% |
| 1978 | 29.23 | +19.11% |
| 1977 | 24.54 | +25.27% |
| 1976 | 19.59 | +18.94% |
| 1975 | 16.47 | — |
Methodology
The FHFA House Price Index is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same single-family properties. The all-transactions index incorporates both purchase mortgages and refinance appraisals; the index is calibrated to the West census region and rebased to 100 in the year 2000.