HPI (2025)FHFA
328
State Series · West Region
Home Price History in Arizona
FHFA all-transactions House Price Index for the state of Arizona — annual data, 1975 through 2025, rebased to 100 in the year 2000.
YoY changeFHFA
+0.9%
5-yr changeFHFA
+55%
Since 2000FHFA
+228%
Arizona's FHFA all-transactions House Price Index runs from 1975 through 2025. The state-level HPI, rebased to 100 in 2000, stood at 328.1 at the latest reading. Cumulative nominal appreciation since 2000: +228.1%.
The 2007–2011 housing crisis cut the Arizona HPI by 45.2% peak-to-trough — from 200.7 in 2006 to 110.0 in 2011. The U.S. national HPI fell roughly 21% over the same window, so Arizona's drawdown was more severe than the national average.
The pandemic-era surge brought Arizona's HPI from 198.8 in 2019 to 328.1 in 2025 — a +65.1% cumulative gain in 6 years, running above the national pace.
Arizona 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 Arizona covered by The Housing Almanac:
For the U.S. national context, see the national median price history or browse all 50 states.
Annual data — Arizona
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 | 328.09 | +0.94% |
| 2024 | 325.04 | +4.01% |
| 2023 | 312.52 | +2.12% |
| 2022 | 306.02 | +21.30% |
| 2021 | 252.29 | +19.09% |
| 2020 | 211.84 | +6.58% |
| 2019 | 198.77 | +6.84% |
| 2018 | 186.05 | +7.77% |
| 2017 | 172.63 | +7.51% |
| 2016 | 160.57 | +7.03% |
| 2015 | 150.03 | +5.65% |
| 2014 | 142.00 | +10.33% |
| 2013 | 128.70 | +12.12% |
| 2012 | 114.79 | +4.32% |
| 2011 | 110.04 | -10.79% |
| 2010 | 123.35 | -13.09% |
| 2009 | 141.93 | -18.54% |
| 2008 | 174.23 | -12.13% |
| 2007 | 198.29 | -1.19% |
| 2006 | 200.68 | +17.89% |
| 2005 | 170.22 | +31.71% |
| 2004 | 129.24 | +11.79% |
| 2003 | 115.61 | +3.94% |
| 2002 | 111.23 | +4.88% |
| 2001 | 106.05 | +6.05% |
| 2000 | 100.00 | +6.96% |
| 1999 | 93.49 | +4.04% |
| 1998 | 89.86 | +4.33% |
| 1997 | 86.13 | +4.12% |
| 1996 | 82.72 | +4.16% |
| 1995 | 79.42 | +6.52% |
| 1994 | 74.56 | +4.73% |
| 1993 | 71.19 | +1.83% |
| 1992 | 69.91 | +2.04% |
| 1991 | 68.51 | +2.09% |
| 1990 | 67.11 | -0.24% |
| 1989 | 67.27 | -0.59% |
| 1988 | 67.67 | -0.92% |
| 1987 | 68.30 | +1.56% |
| 1986 | 67.25 | +4.80% |
| 1985 | 64.17 | +4.31% |
| 1984 | 61.52 | +4.34% |
| 1983 | 58.96 | +11.65% |
| 1982 | 52.81 | -6.18% |
| 1981 | 56.29 | +7.69% |
| 1980 | 52.27 | +11.59% |
| 1979 | 46.84 | +22.39% |
| 1978 | 38.27 | +15.86% |
| 1977 | 33.03 | +8.76% |
| 1976 | 30.37 | +3.76% |
| 1975 | 29.27 | — |
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.