U.S. Home Prices Increase in Some States, Fall in Others
January 27th, 2008 Categories: Investing in Real Estate, Latest Real Estate Market News & Stats, Mortgages, Economics, Finance, Real Estate News
I came across an article from Inman Real Estate News this morning which has some interesting information for Canadians trying to figure out what’s going on south of the border.
A few observations:
1. Year over year, November 2007 vs. 2006, prices rose in 31 states, and fell in others.
2. States that experienced larger declines were Florida, Nevada, Arizona, California where prices had risen astronomically during the housing boom.
3. The chart below gives a quick overview of price increases and decreases in some major cities in the U.S.
4. Canadian Investors: Many clients have indicated they want to purchase in the U.S. in the markets where prices are declining, for investment purposes. This chart gives a good summary of valuable data.
| Statistical area |
12-month change Nov. 2007 |
|
Honolulu, Hawaii |
17.10% |
|
Salt Lake City, Utah |
10.53% |
|
San Antonio, Texas |
7.48% |
|
Austin-Round Rock, Texas |
7.47% |
|
Raleigh-Cary, N.C. |
4.62% |
|
Houston-Sugar Land-Baytown, Texas |
4.16% |
|
Dallas-Fort Worth-Arlington, Texas |
3.53% |
|
Charlotte-Gastonia-Concord, N.C.-S.C. |
2.62% |
|
Portland-Vancouver-Beaverton, Ore.-Wash. |
2.01% |
|
Seattle-Tacoma-Bellevue, Wash. |
1.23% |
|
New York-White Plains-Wayne, N.Y.-N.J. |
-0.51% |
|
Detroit-Warren-Livonia, Mich. |
-0.79% |
|
Philadelphia, Pa. |
-1.00% |
|
Chicago-Naperville-Joliet, Ill.-Ind.-Wis. |
-1.63% |
|
San Francisco-San Mateo-Redwood City, Calif. |
-2.06% |
|
Atlanta-Sandy Springs-Marietta, Ga. |
-2.59% |
|
New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa. |
-3.30% |
|
Denver-Aurora, Colo. |
-3.30% |
|
Minneapolis-St. Paul-Bloomington, Minn.-Wis. |
-3.93% |
|
St. Louis, Mo.-Ill. |
-4.54% |
|
Boston-Quincy, Mass. |
-5.11% |
|
Miami-Miami Beach-Kendall, Fla. |
-7.23% |
|
Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.Va. |
-7.77% |
|
Cleveland-Elyria-Mentor, Ohio |
-8.72% |
|
Tampa-St. Petersburg-Clearwater, Fla. |
-9.19% |
|
Phoenix-Mesa-Scottsdale, Ariz. |
-11.42% |
|
Orlando-Kissimmee, Fla. |
-11.49% |
|
Miami-Fort Lauderdale-Miami Beach, Fla. |
-12.11% |
|
Oakland-Fremont-Hayward, Calif. |
-12.89% |
|
Las Vegas-Paradise, Nev. |
-12.96% |
|
Los Angeles-Long Beach-Santa Ana, Calif. |
-13.16% |
|
San Diego-Carlsbad-San Marcos, Calif. |
-13.16% |
|
Riverside-San Bernardino-Ontario, Calif. |
-16.82% |
Click here for full article http://www.inman.com/inmanstories.aspx?ID=65908, and source of statistical data.
FOR MORE INFORMATION ON REAL ESTATE TRENDS AND INVESTING IN REAL ESTATE, call Hilary at 905-599–3311 or [email protected]
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