Industry News

Some housing markets turn to gold, others go cold

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Editor's note: This report also includes an audio interview about price changes in the Boston market. Click here to listen to the audio file. While home prices lulled in many regions across the country during the descent from a prolonged real estate Gold Rush, rapid appreciation has continued in major Pacific Northwest and Rocky Mountain markets. The U.S. Office of Federal Housing Enterprise Oversight, a federal agency that monitors government-sponsored enterprises Fannie Mae and Freddie Mac, reported that Utah, Wyoming, Idaho, Washington and Oregon had the steepest home-price appreciation in fourth-quarter 2006 compared to fourth-quarter 2005. In fourth-quarter 2006, the top five metro areas for year-over-year price appreciation on OFHEO's list were in Oregon, Washington, Utah and Idaho, while the sharpest metro-area price declines were in Indiana, California and Michigan. OFHEO's first-quarter-index report is due out later this month. Median resale home prices in the state of Washing...