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National Housing Market Update
2nd Quarter Analysis of Home Prices and Appreciation Rates
From www.ofheo.gov
_____________________
U.S. home prices were 3.2% higher in second quarter compared with a year earlier, the slowest price gains in 10 years, according to a quarterly index released by the Office of Federal Housing Enterprise Oversight.
A year ago, the year-over-year gain was 10%.
After adjusting for inflation of about 2.1%, real home prices rose 1.1% nationally in the past year.
Five states showed lower prices over the past year: Nevada, Michigan, California, Massachusetts and Rhode Island.
Utah had the best gains at 15.3% in the past year, followed by other states in the West and Southeast.
The 20 best performing areas for home price appreciation are shown below. Next, the bottom 20 metro areas are shown.
TOP 20 Metro Areas For Price Appreciation
MSA National Ranking 1- Yrs. Qtr. 5-Yr.
Wenatchee, WA 1 23.54 5.09 79.17
Provo-Orem, UT 2 18.21 3.48 49.32
Salt Lake City, UT 3 16.03 2.90 58.22
Ogden-Clearfield, UT 4 15.22 3.19 40.41
Grand Junction, CO 5 14.30 3.80 65.24
Longview, WA 6 13.60 3.75 59.25
El Paso, TX 7 12.49 3.08 55.39
Salem, OR 8 11.98 2.72 58.48
Mobile, AL 9 11.26 4.77 44.64
Asheville, NC 10 10.90 1.20 55.53
Austin-Round Rock, TX 11 10.76 2.87 29.58
Lynchburg VA 12 10.65 1.2 48.25
Beaumont-Port Arthur, TX 13 10.62 3.41 32.50
Gulfport-Biloxi, MS 14 10.05 -0.96 53.41
Myrtle Beach-Conway-N. Myrtle Beach, SC 15 9.98 .075 68.62
Scranton-Wilkes-Barre, PA 16 9.92 1.62 42.20
Seattle-Bellevue-Everett, WA (MSAD) 17 9.89 1.80 66.79
San Antonio, TX 18 9.63 1.52 39.70
Tacoma, WA (MSAD) 19 9.34 1.23 75.58
Spokane, WA 20 9.30 1.35 68.51
Bottom 20 Metro Areas For Price Appreciation
MSA National Ranking 1-Yr. Qtr. 5-Yr.
Bay City, MI 268 -4.21 -3.35 9.56
Vallejo-Fairfield, CA 269 -4.24 -2.08 73.64
Oxnard-Thousand Oaks-Ventura, CA 270 -4.31 -1.39 86.2
San Luis Obispo-Paso Robles, CA 271 -4.4 -1.22 63.98
West Palm Beach-Boca Raton-Boynton Beach, FL (MSAD) 272 -4.51 -2.46 100.27
Santa Cruz-Watsonville, CA 273 -4.58 0.16 51.63
Port St. Lucie, FL 274 -4.59 -3.13 99.47
Cape Coral-Fort Myers, FL 275 -5.33 -1.88 97.58
Palm Bay-Melbourne-Titusville, FL 275 -4.64 -1.76 97.35
Santa Rosa-Petaluma, CA 277 -5.35 -1.59 54.1
RENO-SPARKS, NV 278 -5.37 -2.43 79.19
Sacramento-Arden-Arcade-Roseville, CA 279 -6.07 -2.25 69.59
Sarasota-Bradenton-Venice, FL 280 -6.19 -3.22 87.95
Yuba City, CA 281 -6.29 -3.92 88
Modesto, CA 282 -6.51 -2.58 84.62
Salinas, CA 283 -6.95 -3.07 80.7
Punta Gorda, FL 284 -7.12 -2.96 84.97
Stockton, CA 285 -7.2 -2.84 77.99
Santa Barbara-Santa Maria-Goleta, CA 286 -8.1 -4.06 69.16
Merced, CA 287 -8.65 -3.75 89.3
2nd Quarter Analysis of Home Prices and Appreciation Rates
From www.ofheo.gov
_____________________
U.S. home prices were 3.2% higher in second quarter compared with a year earlier, the slowest price gains in 10 years, according to a quarterly index released by the Office of Federal Housing Enterprise Oversight.
A year ago, the year-over-year gain was 10%.
After adjusting for inflation of about 2.1%, real home prices rose 1.1% nationally in the past year.
Five states showed lower prices over the past year: Nevada, Michigan, California, Massachusetts and Rhode Island.
Utah had the best gains at 15.3% in the past year, followed by other states in the West and Southeast.
The 20 best performing areas for home price appreciation are shown below. Next, the bottom 20 metro areas are shown.
TOP 20 Metro Areas For Price Appreciation
MSA National Ranking 1- Yrs. Qtr. 5-Yr.
Wenatchee, WA 1 23.54 5.09 79.17
Provo-Orem, UT 2 18.21 3.48 49.32
Salt Lake City, UT 3 16.03 2.90 58.22
Ogden-Clearfield, UT 4 15.22 3.19 40.41
Grand Junction, CO 5 14.30 3.80 65.24
Longview, WA 6 13.60 3.75 59.25
El Paso, TX 7 12.49 3.08 55.39
Salem, OR 8 11.98 2.72 58.48
Mobile, AL 9 11.26 4.77 44.64
Asheville, NC 10 10.90 1.20 55.53
Austin-Round Rock, TX 11 10.76 2.87 29.58
Lynchburg VA 12 10.65 1.2 48.25
Beaumont-Port Arthur, TX 13 10.62 3.41 32.50
Gulfport-Biloxi, MS 14 10.05 -0.96 53.41
Myrtle Beach-Conway-N. Myrtle Beach, SC 15 9.98 .075 68.62
Scranton-Wilkes-Barre, PA 16 9.92 1.62 42.20
Seattle-Bellevue-Everett, WA (MSAD) 17 9.89 1.80 66.79
San Antonio, TX 18 9.63 1.52 39.70
Tacoma, WA (MSAD) 19 9.34 1.23 75.58
Spokane, WA 20 9.30 1.35 68.51
Bottom 20 Metro Areas For Price Appreciation
MSA National Ranking 1-Yr. Qtr. 5-Yr.
Bay City, MI 268 -4.21 -3.35 9.56
Vallejo-Fairfield, CA 269 -4.24 -2.08 73.64
Oxnard-Thousand Oaks-Ventura, CA 270 -4.31 -1.39 86.2
San Luis Obispo-Paso Robles, CA 271 -4.4 -1.22 63.98
West Palm Beach-Boca Raton-Boynton Beach, FL (MSAD) 272 -4.51 -2.46 100.27
Santa Cruz-Watsonville, CA 273 -4.58 0.16 51.63
Port St. Lucie, FL 274 -4.59 -3.13 99.47
Cape Coral-Fort Myers, FL 275 -5.33 -1.88 97.58
Palm Bay-Melbourne-Titusville, FL 275 -4.64 -1.76 97.35
Santa Rosa-Petaluma, CA 277 -5.35 -1.59 54.1
RENO-SPARKS, NV 278 -5.37 -2.43 79.19
Sacramento-Arden-Arcade-Roseville, CA 279 -6.07 -2.25 69.59
Sarasota-Bradenton-Venice, FL 280 -6.19 -3.22 87.95
Yuba City, CA 281 -6.29 -3.92 88
Modesto, CA 282 -6.51 -2.58 84.62
Salinas, CA 283 -6.95 -3.07 80.7
Punta Gorda, FL 284 -7.12 -2.96 84.97
Stockton, CA 285 -7.2 -2.84 77.99
Santa Barbara-Santa Maria-Goleta, CA 286 -8.1 -4.06 69.16
Merced, CA 287 -8.65 -3.75 89.3
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