House Price Index

U.S. House Price Index Report - 4Q 2008 / December 2008

Significant Findings:

Purchase-only Index:

1. Prices fell over the last four quarters in 44 states and Washington, D.C.

2. Four-quarter price declines exceeded five pe​rcent in 22 states and were in excess of 10 percent in eight states.

3. All nine Census Divisions experienced price declines in the latest quarter. Prices were weakest in the Pacific Census Division, which experienced a 7.1 percent seasonally-adjusted price decline in the quarter and the West South Central Division was strongest, with a seasonally-adjusted decline of 0.9 percent.

All-transactions HPI:

1. The MSAs with the greatest appreciation over the past year were: Decatur, AL (6.6%), Monroe, LA (6.3%), Kingsport-Bristol-Bristol, TN-VA (6.3%).

2. 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.

3. The MSAs with the sharpest depreciation over the year: Merced, CA (-49.5%), Stockton, CA (-40.2%), and Modesto, CA (-37.8%).​

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