According to a recent study released by Federal Housing Finance Agency (FHFA.gov), Boulder County’s appreciation for the four quarters ending September 30, 2010 ranked 53rd best out of the largest 301 metropolitan areas. Boulders yearly appreciation for the year came in at .55%. For the most recent quarter (July 1 – Sept. 30) the home appreciation was measured at .98%. This quarterly appreciation ranked 117th best in the nation.
Many of the areas which have shown the highest volatility during the boom and subsequent bust are now back gaining ground. The top rated area in the nation for annual appreciation is currently held by Battle Creek Michigan. Over the past five years homes in Battle Creek have depreciated by 9.53%. This includes the most recent 1 year gain. Other bounce back areas include Merced California whose houses gained 1.78% over the past year but have lost an astounding 58.27% over the past five years.
While on the whole the losses in value are waning in severity, the nation as a whole lost 3.18% in home value. For the quarter the United States lost an additional 1.59%. During the past five years an average homeowner in the United States has lost 8.36%.
Some areas are still being hit hard by declining values. Over the past year homes in the Daytona Beach, FL area has lost 15.68% and Bend, OR has lost 13.73%. Over the past five years those areas have lost 33.84% and 24.35% respectively.
Compared to the some of these boom and bust areas the Boulder area has been quite stable. Over the past five years an average home in Boulder County has appreciated 3.92%. Certainly not up to our historical average but much better than a double digit loss. The first chart below shows the comparison of the home appreciation in Boulder to the United States as a whole. The second shows how Boulder’s appreciation has ranked nationally during that period.
To view the entire FHFA report go to http://www.fhfa.gov/webfiles/19578/3q2010finalHPI112410.pdf