Thursday, January 24, 2013

Home values continue to climb (Very nicely in the Mountain Region!)!)

The Federal Housing Finance Agency's (FHFA's) Purchase-Only Home Price Index rose 0.6 percent between October and November, 2012, and has climbed 5.6% in a year.

Prices appear to have bottomed in October 2011, and have since returned to June 2010 levels.

The 5.60% average of increase in home values nationally is made up of regional averages.  The Mountain region leads the increases in home values.  Here is a sampling of the annual Home Price Index data from the FHFA's 9 U.S. regions (Oct-Nov 2012) :
  • Pacific : +11.1% (Hawaii, Alaska, Washington, Oregon, California)
  • Mountain : +14.8% (Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona)
  • Middle Atlantic : +0.5% (New York, New Jersey, Pennsylvania)
  • East North Central : +2.3% (Michigan, Wisconsin, Illinois, Indiana, Ohio)
  • South Atlantic : 7.0% (Delaware, Maryland, District of Columbia, Virginia, West Virginia, North Carolina, South Carolina, Georgia, Florida)

Nationwide, home values remain roughly 15% below the April 2007 peak.