Massachusetts real estate sales were ranked 45th out of all 50 US states in home price appreciation in 2007. The over 600% appreciation since 1980 doesn't look as good today because of the foreclosures that are happening, but there is still good value in MA. There were no Massachusetts cities in the top 20 appreciating cities and none in the 20 cities that lost the most value. Cities and towns all over Massachusetts have been experiencing the "real estate correction" that often follows an appreciating real estate market for a short time. Some of them are Barnstable, Boston, and Quincy. The Office of Federal Housing Enterprise Oversight (OFHEO) produced an 88 page reports that says Massachusetts real estate sales were number 45 in the list of states that had "...positive four-quarter appreciation" in 2007...". The report has lots of positive information, but it hasn't been widely publicized. The list of states and their ranking by appreciation over 2007 is on page 25 of the .pdf report. It seems that Massachusetts is one area of the country that should continue to see growth in the real estate market.
80% of the United States had POSITIVE appreciation in 2007 according to the chart page 25 and 26 of the report. And, of the 291 cities monitored in the report, 65% of US cities had appreciation. Too bad these statistics aren't being widely reported. This report uses a few different set of statistics to show different aspects of the housing market.
United States real estate still provides one of the best available forms of investment for people looking to grow wealth over the long run. Real Estate professionals should be using blogging, newslettering, pressreleasing, emailing, and any other useful method to get this positive news out!
The report can be found at: http://www.ofheo.gov/media/pdf/4q07hpi.pdf
Other MA cities with real estate appreciation
Newton had real estate depreciation in 2007
Cambridge had real estate depreciation in 2007
Framingham had real estate depreciation in 2007
Worcester had real estate depreciation in 2007
Peabody had real estate depreciation in 2007
Springfield had real estate appreciation in 2007
Pittsfield had real estate appreciation in 2007
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