New York real estate sales were ranked 40th out of all 50 US states in home price appreciation in 2007, but PRICES WERE UP!. Since the 1980s prices have appreciated in New York by almost 570%! Some of the cities that gained attention for their real estate values in New York are Albany, Schenectady, and Troy. The Office of Federal Housing Enterprise Oversight (OFHEO) produced an 88 page reports that says New York real estate sales were number 40 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 starts on page 25 of the .pdf report. It seems that New York can still grow!
80% of the United States had POSITIVE appreciation in 2007 according to the chart page 25 and 26 of the report. And, of the 121 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
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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