New Hampshire Home Prices in 2026: FHFA Index Data, 1/5/10-Year Trends
New Hampshire’s housing market has been one of the stronger performers in the Northeast over the past decade. According to the Federal Housing Finance Agency (FHFA) All-Transactions House Price Index — sourced from FRED (fred.stlouisfed.org) and retrieved on 2026-07-19 — the Granite State’s index now stands at 906.43 as of January 2026, up from 412.19 a decade ago. For buyers weighing a move to New Hampshire, understanding what these numbers mean in practical terms is essential before making one of the largest financial decisions of their lives.
1-Year, 5-Year, and 10-Year Price Changes
The table below captures how the FHFA index has shifted over three key horizons. Each period tells a different story about the pace and durability of appreciation in New Hampshire.
| Period | Date | Index Value | Absolute Change | Percent Change |
|---|---|---|---|---|
| 10 Years Ago | 2016-01-01 | 412.19 | +494.24 | +119.9% |
| 5 Years Ago | 2021-01-01 | 560.82 | +345.61 | +61.6% |
| 1 Year Ago | 2025-01-01 | 860.42 | +46.01 | +5.3% |
| Latest | 2026-01-01 | 906.43 | — | — |
The 10-year picture is striking: prices nearly doubled, rising 119.9% since January 2016. The five-year figure shows that a huge portion of that gain — 61.6% — was compressed into the post-2021 period, largely driven by pandemic-era demand, remote-work migration into New England, and constrained inventory. The most recent one-year change of 5.3% is notable because it represents a significant deceleration from that five-year pace, but it is still a meaningful gain in absolute terms and well above long-run inflation targets.
Recent Quarterly Trend (2024–2026)
The quarterly data points below reveal how momentum has shifted over the past two years. After a strong climb through early 2024, the pace of quarterly gains began to flatten noticeably.
| Quarter | Index Value |
|---|---|
| Q2 2024 (Apr) | 839.12 |
| Q3 2024 (Jul) | 849.26 |
| Q4 2024 (Oct) | 850.82 |
| Q1 2025 (Jan) | 860.42 |
| Q2 2025 (Apr) | 887.24 |
| Q3 2025 (Jul) | 893.73 |
| Q4 2025 (Oct) | 896.89 |
| Q1 2026 (Jan) | 906.43 |
Between Q2 and Q4 of 2024, the index moved just 11.70 points — a near-stall. It then picked up through 2025, gaining roughly 46 points across the year, before settling into another mild deceleration in late 2025. The jump from Q4 2024 (850.82) to Q2 2025 (887.24) — a gain of 36.42 points in a single quarter — stands out as the sharpest short-term acceleration in this dataset. The most recent reading of 906.43 marks a fresh high, suggesting appreciation has not reversed, but the rate of gain is far more moderate than during the 2020–2022 surge embedded in the five-year figures.
Is the Trend Accelerating or Cooling?
The data tells a nuanced story. At the longest horizon, the 10-year gain of 119.9% reflects an extraordinary run. But zooming into the recent quarters, the pattern is one of gradual cooling with occasional bursts. The near-flat movement from Q2 to Q4 2024, followed by a sharper pop in early 2025, suggests the market is sensitive to seasonal demand cycles and interest-rate movements rather than the broad structural surge seen during 2020–2022.
The one-year gain of 5.3% is respectable by historical norms for a Northeastern market, but it is roughly a tenth of the five-year pace on an annualized basis when that period is examined as a whole. Buyers should interpret this as a market that is still appreciating, but at a speed that makes catastrophic overpayment less likely than during the peak frenzy years.
How New Hampshire Compares to National Dynamics
While this dataset covers only New Hampshire, the pattern — explosive gains between 2020 and 2022 followed by a marked deceleration — mirrors the broad national trajectory. What distinguishes New Hampshire is the sustained demand from Boston-area buyers seeking more space and relatively lower price points, combined with the state’s limited housing inventory and land-use constraints. The 61.6% five-year gain suggests New Hampshire absorbed a larger share of regional migration pressure than many inland or rural states. Buyers comparing New Hampshire to national averages should note that the Granite State’s index level of 906.43 reflects years of compounding gains that cannot easily be reversed but equally are unlikely to repeat at that pace.
About the Data Source
All figures in this article come from the FHFA All-Transactions House Price Index for New Hampshire, FRED series NHSTHPI, published at fred.stlouisfed.org and retrieved on 2026-07-19. The FHFA index tracks average price changes in repeat sales or refinancings of single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac. Because it is repeat-sales based, it controls for differences in property quality across transactions. Key limitations: it excludes cash purchases, jumbo loans, and FHA/VA loans, meaning it may not fully capture the top or bottom of the market. Index values are not dollar prices; they measure relative change from a base period. Quarter-to-quarter revisions are common as additional transaction data is processed.
What This Means for Buyers
For anyone considering purchasing a home in New Hampshire, here are the concrete takeaways the data supports:
- Prices are at record highs. The index reached 906.43 in January 2026, the highest point in this dataset. There is no historical support in this data for expecting a near-term price collapse, but buyers should not count on another 61.6% five-year gain either.
- Appreciation is slowing, not reversing. The 5.3% one-year gain and the flat-to-modest quarterly increments in late 2024 suggest the market has transitioned from a seller’s frenzy to a more measured environment. This gives buyers slightly more negotiating room than existed in 2021–2022.
- Waiting has historically been costly in this state. A buyer who waited from 2016 to 2026 watched the index rise 119.9%. Even the five-year delay from 2021 to 2026 meant a 61.6% increase in the index. Timing the market is difficult, and the data does not support waiting for a major correction based on current trends.
- Recent momentum is positive but modest. The Q1 2026 reading of 906.43 is higher than every prior data point shown, confirming that prices are still moving upward heading into the 2026 buying season.
Frequently Asked Questions
How much have New Hampshire home prices risen in the last year?
According to the FHFA index (FRED series NHSTHPI), the New Hampshire index rose from 860.42 in January 2025 to 906.43 in January 2026 — an increase of 46.01 points, or 5.3%, over that 12-month period.
How much have prices risen over five years?
The index stood at 560.82 in January 2021 and reached 906.43 by January 2026, a gain of 345.61 points or 61.6% over five years. This reflects the intense demand surge of the early 2020s and continued appreciation since.
Did prices flatten at any point recently?
Yes. Between Q2 2024 (839.12) and Q4 2024 (850.82), the index moved only 11.70 points over two quarters — a clear slowdown. Appreciation then rebounded through 2025 before moderating again in late 2025.
Is the FHFA index the same as a median home price?
No. The FHFA index measures relative price change on a repeat-sales basis and is expressed in index points, not dollars. It tells you how much prices have changed, not what the average home sells for. It also excludes cash transactions and non-conforming loans, so it reflects only a segment of the full market.