The reposted forecasts ensure that hurricane-related adjustments to the baseline house price indexes flow through correctly to alternative scenarios. The original forecasts, posted at 9:49 a.m. EST on January 26, reflected changes to the baseline index resulting from the federal tax overhaul but did not carry over prior adjustments to account for the anticipated effects of Hurricanes Irma and Maria in the Texas and Puerto Rico housing markets. The revised forecasts are consistent with the U.S. State baseline house price forecasts for January, which were adjusted to account for both the regional impacts of the tax changes as well as the prior impact of hurricane-related supply shocks.

The corrections consist of adjustments to the FHFA house price indexes as well as the median house price and housing affordability index. Because state house price forecasts are squeezed into the respective U.S. index, the revisions resulted in minor adjustments to other state scenario HPIs. The baseline forecast was not changed.