The Federal Housing Finance Agency released its House Price Index for the second quarter of 2026 on August 25. It’s the federal government’s own read on home prices, and Boston came in well ahead of the country.
The numbers
- Boston, MA metropolitan division: up 4.58% from the second quarter of 2025 to the second quarter of 2026, and up 1.40% from the first quarter.
- Cambridge-Newton-Framingham division: up 3.38% for the year.
- Worcester: up 2.97% for the year.
- Massachusetts statewide: up 3.64%, ranked 16th among the states.
- New England: up 3.78%, the third-fastest of the nine census divisions.
- United States: up 2.1% for the year and 0.3% for the quarter, with prices rising in 46 states and the District of Columbia.
What the index measures
The headline FHFA HPI is a purchase-only, seasonally adjusted repeat-sales index. It compares sale prices of the same homes over time, using mortgages purchased or securitized by Fannie Mae and Freddie Mac. That design filters out changes in the mix of homes sold, which is why it moves differently from a median sale price.
What it leaves out
Cash purchases and jumbo loans above the conforming limit aren’t in the purchase-only index, and a metro division is an average across many towns. The report lists Boston and Cambridge-Newton-Framingham as separate divisions, and this quarter they came in noticeably apart. The number that matters for a specific property comes from recent comparable sales on the same street or in the same building.
How I use it
I check this against the MAR report every month. FHFA tells me which way prices are moving, and the MAR median and days on market tell me what buyers are paying right now. For an actual house I still pull comps. Diana Kim, REALTOR®, eXp Realty.
Questions
Common questions
How much did Boston home prices rise in the year to June 2026?
By 4.58% for the Boston metropolitan division, according to FHFA's second-quarter 2026 House Price Index released August 25, 2026. The quarterly change was 1.40%.
How does Massachusetts compare with the rest of the country?
Massachusetts rose 3.64% over the year, ranked 16th among the states. The U.S. index rose 2.1%, and the New England division rose 3.78%.
Is the FHFA House Price Index the same as a median sale price?
No. It's a repeat-sales index built on Fannie Mae and Freddie Mac loans, so it tracks the same homes over time and excludes cash and jumbo purchases. Medians come from all closed sales in a period.
Written by Diana Yeji Kim — REALTOR® at eXp Realty, serving Greater Boston in English, Korean, and Japanese.
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