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The Best Housing Markets in the 4th Quarter of 2006
The four best housing markets, based on price increases reported by the Office of Federal Housing Enterprise (OFHEO) for the last quarter of 2006, include Anderson, IN, Kingsport-Bristol-Bristol, TN-VA, Lima, OH, and Savannah, GA, which registered housing price increases between 4.5% and 5.5%. Check the table below to see the twenty best housing markets along with the respective housing price increases in the last quarter of 2006, in 2006 and in the last five years ending in the 4th quarter of 2006.The Housing Price Index (HPI)published by OFHEO is a broad measure of the movement of single-family housing prices, which, because of the breadth of the sample it is based on, it provides more information than is available in other house price indexes. As such, the HPI serves as a timely, accurate indicator of house price trends at various geographic levels, from the national level to the metropolitan area level. Check this link for more detailed information about the index. Besides getting a feel of the best housing markets in the 4th quarter of 2006, it is intersting to take a look at the markets that exhibited the worst performance during that period. A second table below lists the twenty worst housing markets (among the 282 metropolitan markets covered by OFEHO) based again on price changes during the last quarter of 2006. As this table indicates, the four worst markets were Battle Creek, MI,Yuba City, CA, Fort Walton Beach-Crestview-Destin, FL, and Santa Barbara-Santa Maria-Goleta, CA, where single-family house prices declined by as much as 2.6-3.7%.
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Twenty Best
Housing Markets Based on Price Trends in 4th Qrtr
of 2006
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Metropolitan
Statistical Area
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Rank*
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4th Qrtr
2006
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2006
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5-Yr.
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Anderson, IN
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1
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5.5
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-2.6
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8.1
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Kingsport-Bristol-Bristol, TN-VA
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2
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5.2
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10.2
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35.9
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Lima, OH
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3
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5.1
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2.3
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22.1
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Savannah, GA
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4
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4.5
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12.0
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60.0
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Hickory-Lenoir-Morganton, NC
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5
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4.4
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6.0
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20.2
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Provo-Orem, UT
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6
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4.2
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19.9
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38.6
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Florence, SC
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7
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4.1
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7.8
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26.1
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Beaumont-Port
Arthur, TX
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8
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4.0
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9.9
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30.1
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Ogden-Clearfield, UT
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9
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3.8
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15.3
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30.5
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Wenatchee, WA
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10
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3.5
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20.9
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61.9
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Salt Lake City, UT
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11
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3.3
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19.8
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49.0
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Kankakee-Bradley, IL
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12
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3.2
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8.4
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36.7
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Prescott, AZ
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13
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3.2
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11.5
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98.4
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Fayetteville, NC
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14
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3.2
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9.8
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28.0
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Greeley, CO
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15
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3.2
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1.3
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15.1
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Monroe, LA
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16
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3.2
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6.4
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25.5
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Billings, MT
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17
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3.0
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7.6
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49.8
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Mount Vernon-Anacortes, WA
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18
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3.0
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16.2
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73.5
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Coeur d'Alene, ID
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19
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3.0
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10.5
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90.5
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Columbia, SC
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20
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2.9
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6.4
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29.2
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Twenty Worst
Housing Markets Based on Price Trends in 4th Qrtr
of 2006
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Fort Collins-Loveland, CO
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263
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-1.2
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0.9
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17.1
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Sacramento-Arden-Arcade-Roseville, CA
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264
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-1.2
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-2.4
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88.7
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Topeka, KS
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265
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-1.3
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3.1
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24.7
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Pensacola-Ferry
Pass-Brent, FL
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266
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-1.3
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1.9
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69.7
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Santa Cruz-Watsonville, CA
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267
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-1.4
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0.8
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59.7
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San
Luis Obispo-Paso Robles, CA
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268
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-1.7
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-2.6
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78.9
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Macon, GA
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269
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-1.8
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2.4
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18.9
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Kokomo, IN
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270
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-1.9
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-5.3
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6.2
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Sioux
City, IA-NE-SD
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271
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-2.0
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1.7
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13.0
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Honolulu, HI
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272
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-2.0
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7.5
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101.1
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Jackson, MI
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273
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-2.1
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-3.9
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16.4
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Naples-Marco Island, FL
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274
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-2.1
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7.9
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127.7
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Merced, CA
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275
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-2.1
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1.6
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115.2
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Ames, IA
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276
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-2.3
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-2.2
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14.9
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Punta Gorda, FL
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277
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-2.4
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2.3
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107.6
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Santa Rosa-Petaluma, CA
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278
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-2.4
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-2.0
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64.3
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Battle Creek, MI
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279
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-2.6
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-0.2
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17.7
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Yuba City, CA
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280
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-2.7
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-2.2
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111.1
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Fort
Walton Beach-Crestview-Destin, FL
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281
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-2.8
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1.5
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103.6
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Santa Barbara-Santa
Maria-Goleta, CA
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282
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-3.7
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-4.2
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93.6
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*
Rank based on percent house price growth in the the
4th Quarter of 2006
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Source:
Office of Federal Housing Enterprise Oversight (OFEHO)
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