U.S. House Price Index Report - 2Q 2009 / June 2009

Published: 08/25/2009

Significant Findings:

As estimated in FHFA’s seasonally-adjusted, purchase-only indexes, six of the nine Census Divisions experienced price declines in the latest quarter.
Prices were weakest in the New England Division, which experienced a 1.6 percent price decline in the quarter and strongest in the West South Central Division, which saw a price increase of 0.2 percent.
Seasonally-adjusted, purchase-only indexes indicate that prices fell in the latest quarter in 38 states. Prices fell over the last year in 46 states and Washington, D.C.
In terms of four-quarter appreciation rates, 37 states and Washington, D.C. are ranked above the national average and only 13 are below average.
Of the recently released purchase-only indexes for the 25 most-populated metropolitan areas in the U.S., four-quarter price declines were greatest in the Miami-Miami Beach-Kendall, FL Metropolitan Division. That area saw price declines of 28.2 percent from the second quarter of 2008.
Prices held up best in the Houston-Sugar Land-Baytown, TX Metropolitan Area, where prices rose 2.9 percent over that period.