House price increases took place in several metropotlitan markets in Q3 2009, according to the Conventional Mortgage Home Price Index (CMHPI) MSA Series published by Freddie Mac on December 8, 2009.
In particular, according to the CMHPI Index, which covers 221 major US metropolitan areas, home sales prices increased during the third quarter of 2009 in 78 markets. Hinesville-Fort Stewart GA, Ithaca NY, and Lawton OK, posted the largest quarterly house price increases of 9.7%, 4.0% and 3.9%, respectively.
Corpus Christi TX, and Texarkana TX-Texarkana AR, complete the list of top five markets with quarterly house price increases of 3.5% and 3.5%, respectively.
The graph below presents the top twenty markets and respective house price increases in Q3 2009 as reported by Freddie Mac.
Top Twenty Metropolitan Markets with Largest House Price Increases in Q3 2009
Sources: Freddie Mac, www.Property-Investing.Org
In terms of the worst performing markets 26 metropolitan areas registered quarterly house price declines in excess of 5%. Las Vegas-Paradise NV, Bend OR and Port St Lucie-Fort Pierce FL were the three worst performing markets with quarterly house price declines of -9.3%, -8.9% and -8.4%, followed by Miami-Miami Beach-Kendall FL and Ocala FL where house prices posted quarterly declines of -7.2% and -7.1%, respectively.
The graph below presents the worst markets and respective house price declines in Q3 2009 as reported by Freddie Mac.
Twenty Worst Metropolitan Markets with Largest House Price Declines in Q3 2009
Sources: Freddie Mac, www.Property-Investing.Org
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