Price Appreciation Up Compared to Last Year
June 7, 2006 |
The Office of Federal Housing Enterprise Oversight (OFHEO) recently released its report on the Home Price Index (HPI). The HPI measures home price appreciation across the country, and is determined at the end of every quarter. The report showed an HPI that was 12.54% higher for Q1 2006 compared to Q1 2005. Obviously appreciation was mixed depending on the locality, but the number is a good sign that while the market may be slowing a bit, there is still growth in home prices.
The report also ranked the Metropolitan Statistical Areas (MSA) of the country according to 1-year appreciation. Charlottesville ranked 72 on that list, with a 1-year appreciation of 16.55%. It should be noted that the Charlottesville MSA showed a quarterly appreciation of 1.75%.
Most of the Top 20 appreciating MSA’s were located in Florida.
If you want to read some good in-depth analysis of the report, check out this article from Realty Times.
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Disclaimer
My name is Daniel Rothamel. I am a licensed real estate agent in the Commonwealth of Virginia and a member of the National Association of REALTORS. As such, I adhere to a strict code of ethics and all laws with regard to equal housing, which is reflected in the content of this blog. My broker is Strong Team REALTORS, 86 Joshua Lane, Palmyra, VA 22963; (434) 589-5800. My VA Real Estate License number is 0225 077325. All of the opinions in this blog are mine, unless otherwise noted.
