by Bill McBride on 12/01/2005 03:04:00 PM
Thursday, December 01, 2005
In addition to YoY appreciation rates, the OFHEO HPI also presents the quarterly appreciation by state. Every state had positive price increases for Q3 2005.
The worst performing states in Q3 were Michigan (0.89% quarterly increase, 3.6% annual rate) and Kansas (0.94% quarterly increase, 3.8% annual rate).
The best was Arizona (7.3% quarterly increase or a 32.6% annual rate). The following map shows the state by state quarterly appreciation:
Red: Greater than 5%
Dark Orange: 4% to 5%
Light Orange: 3% to 4%
Purple: 2% to 3%
Light Blue: 1% to 2%
Dark Blue: less than 1%
Its important to note these are quarterly rates.
Florida, the DC area and the West Coast continue to see the most price appreciation. Massachusetts has cooled substantially as inventories have increased, although prices still appreciated 1.4% for Q3 (or 5.7% annual rate).