Texas Cities Continue To Show Home Price Appreciation
July 5, 2008
First American CoreLogic, family of companies and a leader in residential mortgage data and analytics for the mortgage industry and Wall Street, today announced the release of its April 2008 LoanPerformance Home Price Index (HPI).
The LoanPerformance HPI provides a comprehensive set of monthly home price indices and median sales prices covering 7,529 ZIP codes, 958 Core Based Statistical Areas (CBSA) and 672 counties located in all 50 states and the District of Columbia. The indices, which are the most comprehensive available in the industry, are reported to clients five weeks after each full month ends.
“Home price declines accelerated in two-thirds of the states already experiencing price declines, while appreciation rates are decelerating in the handful of states with positive appreciation, particularly in Idaho, Utah and Hawaii. Ohio and Minnesota have separated from other Midwestern states and are declining at the fastest rates within the Midwest,” said Mark Fleming, chief economist for First American CoreLogic. “Energy-rich sector states are experiencing the fastest price increases. West Virginia is leading the nation in home price appreciation, followed by Montana, Utah and Texas,” added Fleming.
“Two thirds of all states now show year-over-year real estate declines according to this latest LoanPerformance HPI release,” said Mark Fleming, chief economist for First American CoreLogic. “Although only one-third of CBSAs are depreciating on a nominal basis, on an inflation adjusted basis 90 percent of CBSAs are experiencing real price declines. Only 10 percent of CBSAs are experiencing real inflation-adjusted price increases,” added Fleming.
| 12-Month Change By Top CBSAs (Core Based Statistical Areas) as of April 2008 | ||
| 12-Month | ||
| Change | ||
| Riverside-San Bernardino-Ontario, CA | -24.59% | |
| Los Angeles-Long Beach-Glendale, CA | -23.75% | |
| Cape Coral-Fort Myers, FL | -22.87% | |
| Oakland-Fremont-Hayward, CA | -22.29% | |
| Las Vegas-Paradise, NV | -21.01% | |
| San Diego-Carlsbad-San Marcos, CA | -20.54% | |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | -19.70% | |
| Phoenix-Mesa-Scottsdale, AZ | -19.26% | |
| Miami-Miami Beach-Kendall, FL | -18.82% | |
| Orlando-Kissimmee, FL | -17.71% | |
| Tampa-St. Petersburg-Clearwater, FL | -15.53% | |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | -13.22% | |
| San Francisco-San Mateo-Redwood City, CA | -12.91% | |
| Cleveland-Elyria-Mentor, OH | -12.73% | |
| St. Louis, MO-IL | -10.22% | |
| Boston-Quincy, MA | -9.56% | |
| Minneapolis-St. Paul-Bloomington, MN-WI | -9.43% | |
| Atlanta-Sandy Springs-Marietta, GA | -7.65% | |
| Edison-New Brunswick, NJ | -6.94% | |
| Chicago-Naperville-Joliet, IL | -6.75% | |
| New York-White Plains-Wayne, NY-NJ | -6.43% | |
| Denver-Aurora, CO | -5.75% | |
| Seattle-Bellevue-Everett, WA | -4.49% | |
| Portland-Vancouver-Beaverton, OR-WA | -4.34% | |
| Detroit-Livonia-Dearborn, MI | -4.00% | |
| Philadelphia, PA | -2.37% | |
| Raleigh-Cary, NC | -0.49% | |
| Charlotte-Gastonia-Concord, NC-SC | -0.31% | |
| San Antonio, TX | 3.09% | |
| Dallas-Plano-Irving, TX | 3.28% | |
| Salt Lake City, UT | 3.64% | |
| Houston-Sugar Land-Baytown, TX | 4.06% | |
| Austin-Round Rock, TX | 6.14% | |
| Honolulu, HI | 7.15% | |
Source: First American CoreLogic
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