Home Prices 1st Quarter of 2007: Still Going Up in Most MarketsSingle-family home prices increases in 242 metropolitan markets, remained stable in 11 markets and declined in 28 markets in the first quarter of 2007 according to data released by the Office of the Federal Housing Enterprise Oversight (OFHEO). The five markets that registered the greatest quarterly appreciation rates during that first three months of 2007 are Laredo, TX (11.4%), Danville, IL (9.8%), Waco, TX (6.6%), Wenatchee, WA (6.0%), and Victoria, TX (5.4%). It is interesting to note that 3 of the top five markets are in the state of Texas. As we will see below though, Texas was not among the top fastest growing markets in terms of home prices. At the state level home prices increased in 43 states, remained flat in one and decreased in 7 states. The top fastest growing states in terms of single-family housing prices during the first three months of 2007 include Utah (2.8%), Montana (2.5%), North Dakota (2.2%), Washington (1.9%), and Missouri (1.9%). Check here what happened in your state In terms of annual rates of change --1st quarter of 2006 to 1st quarter of 2007)—things were somewhat worst as home prices declined in 56 metropolitan markets. The five markets that registered the greatest annual appreciation rates include Wenatchee, Washington (25.6%), Midland, Texas (21.5%), Provo-Orem, Utah (19.7%), Salt Lake City, Utah (19.1%), and Grand Junction, Colorado (16.8%). At the state level things were better on an annual basis as single-family housing prices declined only in two states (Michigan and Massachusetts). The states with the greatest rates of appreciation between the first quarter of 2006 and the first quarter of 2007 were: Utah (17.0%), Idaho (12.3%), Montana (11.7%), Wyoming (11.7%), and Washington (11.6%). The states with thelowest rates of appreciation for the same period were: Michigan (-0.7%), Massachusetts (-0.6%), Nevada (0.6%), Ohio (0.8%), and New Hampshire (1.1%). Return from Home Prices 1st Quarter 2007 to Market Watch
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