Significant Findings:
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The seasonally adjusted, purchase-only HPI rose in 48 states and in the District of Columbia during the third quarter. Top 5 in annual appreciation: 1) Nevada 2) California 3) Arizona 4) Florida and 5) Washington.
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Of the nine census divisions, the Pacific division experienced the strongest increase in the latest quarter, posting a 4.2 percent increase and a 19.2 percent increase since last year. House prices were weakest in the East South Central division, where prices increased 0.8 percent from the prior quarter.
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As measured with purchase-only indexes for the 100 most populated metropolitan areas in the U.S., third quarter price increases were greatest in the Stockton-Lodi, CA Metropolitan Statistical Area (MSA) where prices increased by 8.3 percent. Prices were weakest in the Virginia-Beach-Norfolk-Newport News, VA-NC MSA, where they fell 2.2 percent.
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Over the past year, only 1 MSA—Winston-Salem, NC—had a negative appreciation rate and 11 of the 20 MSAs with the highest appreciation rates were in California.
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The monthly seasonally adjusted purchase-only index for the U.S. has increased for the last 20 consecutive months.