OFHEO releases 4q house price index. (Business Alert).
For the fourth quarter of 2002, only three states--Vermont, Wyoming and Alaska--experienced negative quarterly growth, compared with seven states in the third quarter. Of the 185 ranked metropolitan statistical areas (MSAs), 22 experienced negative quarterly growth, compared with 33 last quarter. California continues to dominate the top 20 MSAs with 11 areas showing especially rapid appreciation. In the last five years, average U.S. appreciation has been 38.29 percent. Since 1980, average U.S. price appreciation has been 184.90 percent.
OFHEO's House Price Index is published on a quarterly basis and tracks average house price changes in repeat sales or refinancings on the same single-family properties. The HPI is based on analysis of data obtained from Fannie Mae and Freddie Mac from more than 19.6 million repeat transactions over the past 28 years. OFHEO's HPI report is accessible at www.ofheo.gov.
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|Article Type:||Brief Article|
|Date:||Apr 1, 2003|
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