What's Hot and What's Not

One of the resources I use to track real estate markets is the House Price Index (HPI) published quarterly by the Office of Federal Housing Oversight. The latest report has just been released, and you can get it free at www.ofheo.gov.



What's in it? It tells you which states are appreciating the fastest, and which are losing value. Then it goes further and breaks it down by Metropolitan Statistical Area. For example, the fastest appreciating area in the country right now is Wenatchee, WA, and second is Provo-Orem, UT. Leading the country in price declines is Punta Gorda, FL, followed by Sacramento, CA.

By the way, the nation as a whole has posted a .45% gain for the quarter, and a 4.25% gain in the last year. While this is low by historical standards, the sky is not falling as the newspapers would have you believe.