By MSN Money staff
Appreciation in U.S. housing prices continued a slowdown in the fourth quarter of 2006, following a trend that had started earlier in the year.
Twenty-five metro areas recorded decreases house prices, the Office of Federal Housing Enterprise Oversight (OFHEO) reported this morning.
Prices were up 1.1% compared with the third quarter, the OFHEO said, and up 5.9% from the fourth quarter a year earlier. That's significantly slower growth than in 2005, when housing prices increased an average of 13.2% for the year nationwide.
Findings of the report include:
The five states with the largest appreciation rates between 2005's fourth quarter and last year's fourth quarter were Utah, 17.6%; Wyoming, 14.3%; Idaho, 14%; Washington, 13.7%; and Oregon, 13.5%.
Appreciation in U.S. housing prices continued a slowdown in the fourth quarter of 2006, following a trend that had started earlier in the year.
Twenty-five metro areas recorded decreases house prices, the Office of Federal Housing Enterprise Oversight (OFHEO) reported this morning.
Prices were up 1.1% compared with the third quarter, the OFHEO said, and up 5.9% from the fourth quarter a year earlier. That's significantly slower growth than in 2005, when housing prices increased an average of 13.2% for the year nationwide.
Findings of the report include:
The five states with the largest appreciation rates between 2005's fourth quarter and last year's fourth quarter were Utah, 17.6%; Wyoming, 14.3%; Idaho, 14%; Washington, 13.7%; and Oregon, 13.5%.
Michigan, where prices fell 0.4%, was at the bottom of the quarter's appreciation list. The states with the smallest increases were Massachusetts, 0.5%; Ohio, 1%; Indiana, 2.3%; and Minnesota, 2.5%.
Prices in and close to areas affected by Hurricane Katrina had double-digit increases for the year, chiefly because of housing shortages.
City rankings are listed by metropolitan areas. The OFHEO's House Price Index is published on quarterly basis and tracks average house-price changes in repeat sales or refinancings of the same single-family properties. The index is based on analysis of data obtained from Fannie Mae and Freddie Mac from more than 30 million repeat transactions over the past 30 years.
(See chart click title)
No comments:
Post a Comment