OFHEO's
Latest Report
on Home Prices Article
Date - May.12.2006
OFHEO's
latest report
on home prices
reveals that
the cost of
homeownership
continued to
rise in this
year's first
quarter, though
not quite as
fast as in previous
quarters. According
to the government's
Office
of Federal Housing
Enterprise Oversight
(OFHEO), U.S.
home prices
were 12.54%
higher in 2006's
first quarter
than they were
in the same
period one year
ago. Appreciation
from year-end
2005 to the
end of March
2006 was pegged
at 2.03%. OFHEO
noted that the
latest data
indicate stronger
house-price
growth than
had been expected,
but that the
pace of price
gains does seem
to be moderating
in some parts
of the country
– particularly
where prices
had been rising
fastest.
Arizona stood
out in OFHEO's
report for
its consistently
strong rate
of home price
appreciation,
which is higher
than that
of any other
state. Yet,
quarterly
appreciation
there dipped
from about
7.4% to 3.8%,
while four-quarter
appreciation
dropped from
about 35.5%
to 32.8%.
Meanwhile,
Florida also
stands out
for its appreciation
rates –
fully half
of the 20
metropolitan
statistical
areas with
the largest
percentage
house-price
gains in the
past year
were in that
state.
Read more
in OFHEO's
press release,
or for help
responding
to media inquiries
regarding
the government
numbers, contact
Paul
Lopez
(x8409) in
NAHB Public
Affairs.
OFHEO's
latest report
on home prices
reveals that
the cost of
homeownership
continued to
rise in this
year's first
quarter, though
not quite as
fast as in previous
quarters. According
to the government's
