Home prices.

Reading the chart. The FHFA House Price Index is a repeat-sales index tracking purchase prices of homes that have sold more than once — controlling for quality drift, since the same home is being compared against itself. This makes it a stronger measure than median home price, which is biased by changes in what's being built and sold. We chose to drop median home price entirely from the Reality Index in favor of FHFA HPI for this reason.