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Believe What You Want… Home Values ARE Appreciating

There’s a lot of doom and gloom reporting going on in the news about the failing real estate market, declining home values and high mortgage rates…but then, the media’s always been about reporting the bad news over the good.

Why? Because bad news sells of course! It’s a sad fact, but the tragic news story usually gets way more attention than the heartwarming human interest stories. So it’s really no wonder that the media is going to focus on the areas with declining home values and lousy home sales rather than those areas still showing significant appreciation.

And don’t let them fool you – there ARE still areas out there seeing strong increase in home values. Ok, so it’s not the boom of the early 2000s, but did anyone really expect that to last? After the boom comes the bust…or what may SEEM like a bust when you get used to abnormally high home value fluctuations.

A recent study done by the Office of Federal Housing Enterprise Oversight lists the top 20 metropolitan statistical areas (MSAs) which are still showing home value appreciation by more than 5% over a year. Some areas that have made the list?

  1. Houma-Bayou Cane-Thibodaux, LA up by 11.22%
  2. Grand Junction, CO up by 9.08%
  3. Wenatchee, WA up by 8.02%
  4. Austin-Round Rock, TX up by 7.74%
  5. Billings, MT up by 7.09%

So although the real estate market isn’t what it was 5 years ago, and while there certainly are areas that involve decreasing home prices, there’s really no need to panic – just as what goes up must come down – well, in economics, what goes down is bound to come back up as well!

July 29, 2008 at 7:23 pm 1 comment


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