Historic home price increases

Phoenix real estate recorded a 55.2 percent increase in house prices over the past 12 months, according to the latest data from the National Association of Realtors.

NAR’s third-quarter median existing single-family home price survey, covering changes in 147 metropolitan statistical areas, revealed that the average home nationwide appreciated by 14.7 percent since last year. Homes in only six metro areas lost value.

Trailing just behind Phoenix were two Florida cities: Orlando, where prices grew 44.8 percent, and the Cape Coral-Fort Myers area, where they rose 42.5 percent.

Only in six areas did homes lose value led by Elmira New York, where they fell San Diego real estate forecast 5.4 percent. Topeka was down 1.3 percent and Youngstown Ohio inched down 1.0 percent.

Some formerly white-hot markets slowed a bit. San Diego recorded a 6.3 percent gain after growing nearly 30 percent between 2003 and 2004. Las Vegas, which soared 48.7 percent during that same period, grew only 10.5 percent over the latest 12 months.

Regionally, the South recorded the slimmest gain, at 7.7 percent, while the West had the highest – 18.8 percent. The Midwest (13.1 http://journal.firsttuesday.us/home-sales-volume-and-price-peaks/692/ percent) trailed the Northeast (13.2 percent) slightly for second https://www.youtube.com/user/brokerforyou place.

Results are ranked by growth. Click column headings to re-sort

Metropolitan Area

State

Growth

Median Price

Phoenix-Mesa-Scottsdale

AZ

47.0%

$243,400

Cape Coral-Fort Myers

FL

45.2%

$266,800

Palm Bay-Melbourne-Titusville

FL

40.0%

$204,000

Orlando

FL

36.5%

$232,200

Sarasota-Bradenton-Venice

FL

34.3%

$367,800

Reno-Sparks

NV

32.1%

$357,400

Miami-Fort Lauderdale-Miami Beach

FL

31.7%

$371,600

Deltona-Daytona Beach-Ormond Beach

FL

31.2%

$194,000

Durham

NC

30.9%

$198,500

Tucson

AZ

30.0%

$228,500

Hagerstown-Martinsburg

MD/WV

28.7%

$206,000

Honolulu

HI

28.1%

$577,800

Washington-Arlington-Alexandria

DC/VA/MD/WV

26.2%

$429,200

Atlantic City

NJ

25.7%

$244,900

Riverside-San Bernardino-Ontario

CA

24.8%

$367,600

Spokane

WA

24.6%

$158,600

Davenport-Moline-Rock Island

IA/IL

24.0%

$133,900

Allentown-Bethlehem-Easton

PA/NJ

23.9%

$249,100

Virginia Beach-Norfolk-Newport News

VA/NC

23.8%

$192,000

Pensacola-Ferry Pass-Brent

FL

23.3%

$163,600

Tampa-St.Petersburg-Clearwater

FL

23.3%

$195,000

Edison

NJ

22.8%

$394,100

Sacramento–Arden-Arcade–Roseville

CA

22.5%

$377,400

Ocala

FL

20.5%

$135,300

New York-Wayne-White Plains

NY/NJ

20.0%

$506,800

Seattle-Tacoma-Bellevue

WA

19.9%

$310,300

Dover

DE

19.4%

$176,300

Rockford

IL

18.6%

$122,700

Cumberland

MD/WV

18.6%

$88,600

New York-Northern New Jersey-Long Island

NY/NJ/PA

18.3%

$452,700

Albuquerque

NM

18.1%

$171,700

Eugene-Springfield

OR

18.0%

$192,400

Baltimore-Towson

MD

17.5%

$264,700

Danville

IL

16.9%

$73,400

Portland-Vancouver-Beaverton

OR/WA

16.6%

$238,000

Reading

PA

16.5%

$140,400

Boise City-Nampa

ID

15.8%

$161,800

New Haven-Milford

CT

15.0%

$283,800

Syracuse

NY

14.8%

$108,700

Richmond

VA

14.7%

$198,400

Kankakee-Bradley

IL

14.6%

$132,300

Montgomery

AL

14.0%

$133,300

Hartford-West Hartford-East Hartford

CT

13.9%

$257,700

Kingston

NY

13.8%

$250,700

Salem

OR

13.7%

$172,000

Trenton-Ewing

NJ

13.5%

$267,700

El Paso

TX

13.4%

$108,900

Colordo Springs

CO

13.0%

$214,200

Madison

WI

13.0%

$220,100

Nassau-Suffolk

NY

12.8%

$467,700

Farmington

NM

12.6%

$151,800

Green Bay

WI

12.4%

$159,200

San Francisco-Oakland-Fremont

CA

12.3%

$726,900

Decatur

IL

12.3%

$86,800

Peoria

IL

12.3%

$110,500

Shreveport-Bossier City

LA

12.3%

$125,100

Philadelphia-Camden-Wilmington

PA/NJ/DE/MD

12.2%

$211,000

Albany-Schenectady-Troy

NY

11.6%

$176,100

Springfield

MA

11.4%

$197,900

Amarillo

TX

11.4%

$107,400

Las Vegas-Paradise

NV

11.2%

$300,100

New Orleans-Metairie-Kenner

LA

11.0%

$152,600

Jackson

MS

11.0%

$131,700

Columbia

SC

10.8%

$133,700

Mobile

AL

10.5%

$129,100

Corpus Christi

TX

10.3%

$123,000

Binghamton

NY

10.2%

$93,300

Champaign-Urbana

IL

9.9%

$137,600

Newark-Union

NJ/PA

9.9%

$414,400

Milwaukee-Waukesha-West Allis

WI

9.9%

$216,800

Tallahassee

FL

9.7%

$163,300

Gulfport-Biloxi

MS

9.6%

$124,000

Knoxville

TN

9.1%

$143,400

Minneapolis-St. Paul-Bloomington

MN/WI

9.0%

$237,700

South Bend-Mishawaka

IN

8.8%

$102,100

Portland-South Portland-Biddeford

ME

8.8%

$247,200

Memphis

TN/MS/AR

8.5%

$150,100

Los Angeles-Long Beach-Santa Ana

CA

8.3%

$474,800

Nashville-Davidson–Murfreesboro

TN

8.3%

$159,700

San Diego-Carlsbad-San Marcos

CA

8.2%

$605,600

Oklahoma City

OK

8.1%

$115,700

Chicago-Naperville-Joliet

IL

8.0%

$263,600

Saint Louis

MO/IL

7.9%

$141,900

Jacksonville

FL

7.8%

$166,600

Little Rock-N. Little Rock

AR

7.7%

$118,900

Bridgeport-Stamford-Norwalk

CT

7.6%

$487,300

San Antonio

TX

7.5%

$134,000

Raleigh-Cary

NC

7.4%

$185,200

Gainesville

FL

7.0%

$178,800

Barnstable Town

MA

7.0%

$398,600

Glens Falls

NY

7.0%

$142,000

Fargo

ND/MN

6.8%

$132,600

Pittsfield

MA

6.6%

$211,800

Boston-Cambridge-Quincy

MA/NH

6.6%

$418,500

Providence-New Bedford-Fall River

RI/MA

6.3%

$291,600

Anaheim-Santa Ana (Orange Co.)

CA

6.2%

$696,100

Atlanta-Sandy Springs-Marietta

GA

6.2%

$166,500

Sioux Falls

SD

6.2%

$137,700

Dallas-Fort Worth-Arlington

TX

5.7%

$149,100

Charleston

WV

5.7%

$121,700

Waterloo/Cedar Falls

IA

5.6%

$100,700

Baton Rouge

LA

5.6%

$135,400

Greensboro-High Point

NC

5.5%

$148,000

Rochester

NY

5.3%

$110,700

Salt Lake City

UT

5.2%

$169,900

Greenville

SC

5.1%

$143,200

Austin-Round Rock

TX

5.0%

$166,800

Worcester

MA

4.7%

$292,300

Erie

PA

4.7%

$98,500

Boulder

CO

4.5%

$346,200

Birmingham-Hoover

AL

4.4%

$156,100

Bloomington-Normal

IL

4.4%

$155,800

Norwich-New London

CT

4.3%

$246,800

Springfield

IL

4.3%

$109,000

Ft. Wayne

IN

4.3%

$102,800

Gary-Hammond

IN

4.0%

$129,600

Lexington-Fayette

KY

3.9%

$144,800

Cleveland-Elyria-Mentor

OH

3.9%

$144,700

Columbus

OH

3.7%

$155,900

Kennewick-Richland-Pasco

WA

3.7%

$152,700

Tulsa

OK

3.6%

$117,400

Grand Rapids

MI

3.3%

$139,000

Kansas City

MO/KS

3.3%

$157,100

Akron

OH

3.3%

$119,800

Appleton

WI

3.2%

$129,600

Omaha

NE/IA

3.1%

$137,300

Spartanburg

SC

3.0%

$118,700

Denver-Aurora

CO

2.7%

$248,400

Louisville

KY/IN

2.5%

$136,800

Houston-Baytown-Sugar Land

TX

2.4%

$142,500

Des Moines

IA

2.3%

$145,100

Lansing-E.Lansing

MI

2.3%

$143,600

Lincoln

NE

2.2%

$138,300

Buffalo-Niagara Falls

NY

1.6%

$97,500

Toledo

OH

1.6%

$118,600

Yakima

WA

1.4%

$134,800

Pittsburgh

PA

0.9%

$118,500

Charleston-North Charleston

SC

0.9%

$193,600

Cincinnati-Middletown

OH/KY/IN

0.7%

$148,500

Beaumont-Port Arthur

TX

0.6%

$96,500

Wichita

KS

0.5%

$106,300

Detroit-Warren-Livonia

MI

0.4%

$169,200

Cedar Rapids

IA

-0.2%

$131,600

Dayton

OH

-0.3%

$119,400

Topeka

KS

-0.6%

$103,100

Indianapolis

IN

-1.0%

$124,600

Chattanooga

TN/GA

-1.0%

$130,500

Youngstown-Warren-Boardman

OH/PA

-2.7%

$82,900

Kalamazoo-Portage

MI

-3.5%

$122,600

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