National Appreciation
Where Do We Stack Up?
Last week the Office of Federal Housing Enterprise Oversight released their home value report for the 1st quarter of 2007. According to the report, nationwide home price appreciation is slow, but on average, remains positive. As a nation, prices were 4.3% higher this year than they were 1st quarter last year. Seven states (mostly in the west) showed double digit appreciation and seven states showed home price depreciation during the first quarter.
Colorado had appreciation of 3.3% for the past year. This ranked 38th among states. During the 4th quarter of 2006 we had annual appreciation of 3.32% and ranked 43rd. We seem to be holding ground while other parts of the country are declining.
Locally, Boulder/Longmont had 1.55% appreciation during the past year and -.28% during the 1st quarter. This ranked us 223rd among 272 MSA’s (Metropolitan Statistical Areas). During the 4th quarter of 2006 we showed annual appreciaiton of 1.68 which ranked us 223rd.
Here are the top performing States:
- Utah 17.01%
- Idaho 12.27%
- Montana 11.68%
- Wyoming 11.67
- Washington 11.63%
- New Mexico 11.21%
- Oregon 10.77%
Here are the worst performing States:
- Michigan -.66%
- Massachusetts -.56%
- Nevada .60%
- Ohio .84%
- New Hampshire 1.07%
- California 1.19%
