Housing Price Index in Warner Robins GA

There has been a lot of negative news media about the Real Estate market over the past several months. I have been telling my customers that some states are having problems such as California and Florida, but Georgia's Real Estate market remains strong. Homes for Sale in Warner Robins GA have been averaging steady 3% to 4% appreciation per year with no housing bubbles, which has created a healthy housing market. I was in our weekly sales meeting Wednesday and our office manager was talking about the Housing Price Index (HPI) in Georgia and Warner Robins. I pulled up the same information online and thought I'd share the same information here in my blog. The Housing Price Index (HPI) is a broad measure of the movement of single-family house prices. The HPI for each geographic area is estimated using repeated observations of housing values for individual single-family residential properties on which at least two mortgages were originated and subsequently purchased by ether Freddie Mac or Fannie Mae since January 1975. The HPI is a measure designed to capture changes in the value of single-family homes in the U.S. by state and metropolitan areas. Percent Change in House Prices by Office of Federal Housing Enterprise Oversight (OFHEO) Georgia was ranked #24 in 2007 with 2.55 percent increase. In the last 5 years 24.74% increase. East South Central was ranked #2 in 2007 with 4.14 percent increase. In the last 5 years 29.77% increase. Warner Robins GA was unranked in 2007 with 6.52% percent increase. In the last 5 years 23.44% increase. This is big news for the naysayer’s and people waiting for the market to improve before buying a home in Warner Robins GA. It also means I have been underestimating my estimate of 3% to 4% yearly appreciation. A better estimate of appreciation I should be telling my customers is 4% to 4.5%. Interest rates are low and now is truly a great time to buy a home in Warner Robins GA.

John W. Cobb

 

REALTOR^® jcobb@coldwellbankerssk.com

Coldwell Banker, SSK Realtors

Cell – (478) 396-2440

Work – (478) 953-8595 ext 272

http://www.johncobbmiddlega.com