Twelve out of the 51 US states registered rising house prices in the second quarter of 2009 according to data provided by Federal Housing Finance Agency's (FHFA) Housing Price Index (HPI).
This index provides more reliable measurements of house price changes through time because it a constant-quality index, in contrast to simple averages that do not control for changes in the quality mix of properties transacted from one period to the other.
Furthermore, the data provided are seasonally adjusted to eliminate any variations in prices due to seasonal factors, thus allowing calculations of price changes from quarter to quarter.
The top state by far in terms of rising house prices in the second quarter of 2009 was Washington DC, where the FHFA HPI registered a quarterly increase of 8.2%.
The second best performing state was Wyoming where house prices registered a quarterly increase of 2.2%, followed by North Dakota and Nebraska, where home prices registered quarterly gains of 1.9% and 1.5%, respectively. The graph below portrays all states in which house prices as measured by the HPI increased in the second quarter of 2009.
States with Rising House Prices in the Second Quarter of 2009
Sources: Federal Housing Finance Agency, www.Property-Investing.org
House prices remained stable in four states (Texas, New Mexico, Kansas and Louisiana) and declined in the remaining 35 states in the second quarter of 2009.
The five worst performing states in terms home price declines in the second quarter of 2009 were Arizona, Hawaii, Alaska, Utah and Rhode Island, where house prices registered quarterly declines of -6.5%, -6.0%, -5.4%, -3.6% and -3.6%, respectively. The graph below portrays all states where house prices declined in the second quarter of 2009 and the respective price declines that took place.
States with Rising House Prices in the Second Quarter of 2009
Sources: Federal Housing Finance Agency, www.Property-Investing.org
Search Our Over 500-Page Website! |
Search Our Over 300-Page Website!
Related Posts
Trends in Mortgage Interest Rates, August 2009
Trends in US Condo Prices in August 2009
"Annual" Declines in Single Family Home Prices Accelerated in August 2009
Mixed Regional Condo Sales Trends in August 2009
Demand for Expensive Single Family Houses Takes Greatest Hit From Economic Downturn
Single Family Home Sales Trends Across Metropolitan Markets, August 2009
US Home Sales in August 2009 Reverse Four-Month Trend
FHFA House Price Index Increased in July 2009
Trends in US Apartment Vacancy Rate, Q2 2009
US Housing Market Forecast, September 2009
California Apartment Rents, September 2009
Return from States with Rising House Prices Q2 2009 to Market Watch
