65% of US Markets had Price Appreciation in 2007!

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Real Estate Agent with http://www.CapeGroup.com & http://www.REindex.com 9023635

According to an 88 page report from the Office of Federal Housing Enterprise Oversight (OFHEO), 65% of the 291 cities they monitor had "...positive four-quarter appreciation" in 2007...".  This report is titled "Widespread House Declines in Fourth Quarter," but in reading the report, there is good news for some areas of the country. (see page 2, #6)

There are of course some areas of the country that are not appreciating.  Statistics can be used to make any point you want.  This report uses a few different set of statistics to show different aspects of the housing market.  Each set of stats provides a different opinion.

US real estate still provides one of the best available forms of investment for people looking to grow wealth over the long run.

The report can be found at:  http://www.ofheo.gov/media/pdf/4q07hpi.pdf 

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Ambassador
517,619
Stanton Homes
Stanton Homes - New Home Builder - Raleigh, NC
Design/Build Custom Home Builder in North Carolina

What's most interesting to me in this report is the 1 year appreciation rates versus the 5 year appreciation rates.  Arizona, for instance, had a -2.4% appreciation, but the 5 year appreciation was 80.4%!   Not surprising to see an adjustment there.   North Carolina had a 4.85% appreciation last year, but 5 year total is only 32.05%.  

May 25, 2008 11:56 PM #1
Rainmaker
631,197
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Heath,  This is a very interesting report, thank you for it.  There are a lot of areas that did well in 2007, positive reports.  I am sure the negative media will use the 35% that were in a down market as more fodder and leave the 65% alone.

Don R.

May 26, 2008 12:21 AM #2
Rainmaker
167,113
Sonja Babic
Sonja Babic/PRIME Realty NC, LLC - New Bern, NC
New Bern NC, PRIME Realty NC, LLC

Great info thank you Heath. Here in North Carolina we are still doing OK and it looks like its picking up last few weeks.

May 26, 2008 01:08 AM #3
Rainmaker
231,176
Richard Byron Smith, NMLS #184479
Mortgage Loan Officer, Fairway Independent Mortgage Corporation NMLS #2289 - Chattanooga, TN
Mortgage Loan Officer

There is a pop up map in the WSJ website for median price change and delinquency that reflects your statistics.

http://online.wsj.com/public/resources/documents/retro-MORTGAGE0807.html

It is pretty interesting, to see visually the problem areas. Of course rates trending upward may impact appreciation in some areas.

Richard

Jun 13, 2008 03:58 PM #4
Rainmaker
613,146
Associate Broker Falmouth MA Cape Cod Heath Coker
http://www.CapeGroup.com & http://www.REindex.com - Falmouth, MA
Heath Coker Robert Paul Properties Falmouth MA

That is a great map Richard!  Thanx for the link!

Jun 14, 2008 12:50 AM #5
Rainmaker
272,675
Ross Quintana
Real E Smarter - Spokane, WA
Real E Smarter Real Estate Coach - 509-362-1966

Spokane Washington Real Estate Expert Thanks for the post, yes in Eastern washington the high end homes made up for the middle market which was down so even th numbers don't tell the whole story.

Jun 16, 2008 05:02 AM #6
Rainer
43,037
Thomas Hargreaves
TriStar Financial Services - Eugene, OR

Heath, thanks for the info.  It is good to know that the depreciation of values is not occuring throughout the united states yet.

Aug 27, 2008 12:47 PM #7
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Rainmaker
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Associate Broker Falmouth MA Cape Cod Heath Coker

Heath Coker Robert Paul Properties Falmouth MA
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