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65% of US Markets had Price Appreciation in 2007!

According to an 88 page report from the Office of Federal Housing Enterprise Oversight (OFHEO), 65% of the 291 cities they monitor had "...positive four-quarter appreciation" in 2007...".  This report is titled "Widespread House Declines in Fourth Quarter," but in reading the report, there is good news for some areas of the country. (see page 2, #6)

There are of course some areas of the country that are not appreciating.  Statistics can be used to make any point you want.  This report uses a few different set of statistics to show different aspects of the housing market.  Each set of stats provides a different opinion.

US real estate still provides one of the best available forms of investment for people looking to grow wealth over the long run.

The report can be found at:  http://www.ofheo.gov/media/pdf/4q07hpi.pdf 

Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / capegroup@capegroup.com
508-274-5613  Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup  Skype: heath.coker

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Comments

What's most interesting to me in this report is the 1 year appreciation rates versus the 5 year appreciation rates.  Arizona, for instance, had a -2.4% appreciation, but the 5 year appreciation was 80.4%!   Not surprising to see an adjustment there.   North Carolina had a 4.85% appreciation last year, but 5 year total is only 32.05%.  

Posted by Stanton Homes, Design/Build Custom Home Builder in North Carolina (Stanton Homes - New Home Builder) almost 12 years ago

Heath,  This is a very interesting report, thank you for it.  There are a lot of areas that did well in 2007, positive reports.  I am sure the negative media will use the 35% that were in a down market as more fodder and leave the 65% alone.

Don R.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) almost 12 years ago

Great info thank you Heath. Here in North Carolina we are still doing OK and it looks like its picking up last few weeks.

Posted by Sonja Babic, New Bern NC, PRIME Realty NC, LLC (Sonja Babic/PRIME Realty NC, LLC) almost 12 years ago

There is a pop up map in the WSJ website for median price change and delinquency that reflects your statistics.

http://online.wsj.com/public/resources/documents/retro-MORTGAGE0807.html

It is pretty interesting, to see visually the problem areas. Of course rates trending upward may impact appreciation in some areas.

Richard

Posted by Richard Byron Smith, NMLS #184479, Mortgage Loan Officer (Mortgage Loan Officer, Fairway Independent Mortgage Corporation NMLS #2289) almost 12 years ago

That is a great map Richard!  Thanx for the link!

Posted by Associate Broker Falmouth MA Cape Cod Heath Coker, Heath Coker Robert Paul Properties Falmouth MA (http://www.CapeGroup.com & http://www.REindex.com) almost 12 years ago

Spokane Washington Real Estate Expert Thanks for the post, yes in Eastern washington the high end homes made up for the middle market which was down so even th numbers don't tell the whole story.

Posted by Ross Quintana, Real E Smarter Real Estate Coach - 509-362-1966 (Real E Smarter) almost 12 years ago

Heath, thanks for the info.  It is good to know that the depreciation of values is not occuring throughout the united states yet.

Posted by Thomas Hargreaves (TriStar Financial Services) over 11 years ago

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