OFHEO Says House Prices Rose in Fourth Quarter--Check Out Your Own City

The Office of Federal Housing Enterprise Oversight says that house prices rose 1.1% in the fourth quarter of 2006 from the third-quarter level. That put them 5.9% higher than they were in the fourth quarter of 2005. Here's a link to the report. Prices of non-shelter items in the Consumer Price Index rose just 0.9% over the past year, so housing continued to be an inflation leader.

Biggest gainers in the fourth quarter compared to a year earlier were:
Bend, Ore: Up 21%
Wenatchee, Wash.: Up 21%
Provo-Orem, Utah: Up 20%

Biggest losers were:
Kokomo, Ind.: Down 5%
Santa Barbara, Calif.: Down 4%
Jackson, Mich.: Down 4%

OFHEO covers 282 metro areas. Click on the link above to see where yours stacks up.

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