The Federal Housing Finance Agency (www.fhfa.gov) collects information on and calculates the appreciation index. Who is the FHFA? The FHFA is the conservator of Fannie Mae and Freddie Mac, the wholesale market exchange for mortgages. FHFA is the federal oversight that “creates the rules” (really the guidelines) for the mortgage market and has access to the majority of real estate purchase and refinance transaction.
Colorado Springs has completed two consecutive 12-month cycles of 10%+ appreciation according to this data.