Housing Prices Rebounding Here
Worried about housing prices? They're rebounding in some states.
It is not news that the housing market strength is less than ideal. In many areas, it's somewhat bleak. There are, however, some housing markets where housing prices are starting to rebound.
According to the Federal Housing Finance Agency (FHFA), home prices have fallen 3.2 percent from last year. But the housing markets listed below have been fairly impervious to the overall downturn in the market.
Want to live in a place where your home price might appreciate? Try these locales:
1. District of Columbia: Home prices are 5.29 percent higher over last year. The nation's capital is certainly leading the way in home price appreciation, with a 3.2 percent increase over the past five years.
2. West Virginia: Home prices are 4.41 percent higher than last year. West Virginia's public investments seem to be doing pretty well. Unemployment seems to have stabilized.
3. Alaska: Home prices are up 4.22 percent over last year. People are paying more for homes in the "Last Frontier," home values are up an astounding 10.52 percent from five years ago. (Maybe it is their amazing view of Russia? Or, perhaps it's the oil revenue check and no state taxes that are appealing.)
4. North Dakota: Home prices are 3.89 percent higher than last year. It sure helps to have the lowest unemployment rate in the nation.
5. Louisiana: Home prices are up 1.68 percent over last year. Federal funds to help rebuild after Hurricanes Katrina and Rita have helped stabilize New Orleans and Louisiana in general.
6. Maine: Home prices are 1.17 percent higher than 2009. Maybe it's the blueberries in summer and cranberries in winter.
7. Texas: Home prices are up 1.09 percent over 2009. It's all about the jobs. Texas is adding jobs faster than just about anywhere else at the moment.
8. Massachusetts: Home prices are .63 percent higher than last year. Even though the state is improving, Massachusetts is far from being out of hot water with regards to home prices. Home values are still almost 12 percent less than what they were five years ago.
9. South Dakota: Home prices are up .28 percent this year. Again, a low unemployment rate helps stabilize the state economy.
10. Kentucky: Home prices are .19 percent higher than last year.
11. Indiana: Home prices are up .14 percent this year. The Hoosier State is slowly, but surely, coming back to their prerecession home values, prices are only 1.45 percent under where they were five years ago.
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Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com and The Equifax Personal Finance Blog, and is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.
