Significant Findings:
Purchase-only Index:
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Prices fell in the latest quarter in 41 states.
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Eight states exhibited quarterly price declines of more than three percent and three—Nevada, California, and Arizona—saw price declines of more than five percent.
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All nine Census Divisions experienced price declines in the latest quarter. Prices were weakest in the Pacific Census Division, which experienced a 5.4 percent price decline in the quarter and strongest in the West South Central Division, which experienced a price decline of 0.2 percent.
All-transactions HPI:
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The states with the greatest price appreciation between the third quarters of 2007 and 2008 were: North Dakota (4.0%), South Dakota (3.9%), Texas (3.2%), Alabama (2.8%), and Oklahoma (2.8%). The states with the sharpest depreciation for the same period were: Nevada (-20.9%), California (-20.8%), Florida (-16.0%), Arizona (-13.5%), and Rhode Island (-8.0%).
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The MSAs with the greatest appreciation over the past year were: Austin-Round Rock, TX (5.6%), Augusta-Richmond County, GA-SC (5.5%),and Rapid City, SD (5.4%)
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Of the 20 ranked cities with the greatest price declines over the last four quarters, all but one (Las Vegas-Paradise, NV) was in California or Florida.
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The MSAs with the sharpest depreciation over the year were: Merced, CA (42.3%), Stockton, CA (-41.4%), and Modesto, CA (-36.7%).
The complete list of state appreciation rates can be found on pages 18 and 19. The complete list of city (MSA) appreciation rates is available on pages 32 – 46.