By: Maura Collins

June 19, 2009

fhfa logoFederal Housing Finance Agency (FHFA) (formerly the Office of Federal Housing Enterprise Oversight [OFHEO]) announced its first quarter 2009 home sale appreciation index in May.

This is a good data source because it measures true appreciation — meaning same house price changes — instead of tracking median sales prices.

Vermont

  • Vermont was ranked 24th for strongest home price appreciation over the past year of purchased homes, not including refinances. Vermont's prices fell by 3.52 percent for the past year. Only four states saw price increases.
  • For first quarter 2009, Vermont's purchase-only home prices were up 1 percent.
  • Looking at the past five years, Vermont's prices are up 27.48 percent, which ranks Vermont 10th nationally for highest five-year appreciation. The national rate is 9.82 percent.

Nationally

  • For purchased homes, not including refinances, home prices were slightly up in January and February, but March's decline meant the quarter ended 0.5 percent lower, seasonally adjusted. This is less of a decline than the previous quarter, which was -3.3 percent.
  • Year-to-date, first quarter 2008 to first quarter 2009, seasonally adjusted purchase-only prices are down 7.1 percent.
  • If you combine purchases with refinances, prices were up 0.4 percent this quarter and are down only 3.3 percent year-over-year.
  • When looking at regions, prices were strongest in New England.

Source: http://www.fhfa.gov/webfiles/2406/1q09hpi.pdf