North Dakota was #3 in House Price Appreciation in 2007! Are people moving to North Dakota because when the floods from global warming come, they will be on higher ground? Or is there a lot of open space there? I haven't heard of tornadoes or hail in North Dakota, but there does seem to be a ton of snow! According to an 88 page report from the Office of Federal Housing Enterprise Oversight (OFHEO), North Dakota real estate sales were number 3 in the list of states that had "...positive four-quarter appreciation" in 2007...".
The report I am reporting the data from has a negative title, but the data is mostly positive. The list of states and their ranking by appreciation over 2007 is on page 25 of the report. 80% of states had positive appreciation in 2007 according to page 25 of the report. And, of the 291 cities monitored in the report, 65% had appreciation. 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.
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 / firstname.lastname@example.org
508-274-5613 Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup Skype: heath.coker