Week of May 13, 2019

Property appreciation rate

Year-over-year change for February

Year-over-year change for February
State Name Property appreciation rates, YOY
National 4.14%
Alabama 4.48%
Alaska 1.56%
Arizona 6.52%
Arkansas 3.57%
California 2.86%
Colorado 5.54%
Connecticut 0.75%
Delaware 3.01%
District of Columbia 2.91%
Florida 4.44%
Georgia 5.13%
Hawaii 1.07%
Idaho 10.45%
Illinois 2.29%
Indiana 5.78%
Iowa 3.75%
Kansas 3.75%
Kentucky 4.22%
Louisiana 1.29%
Maine 4.01%
Maryland 1.93%
Massachusetts 3.89%
Michigan 5.69%
Minnesota 4.69%
Mississippi 4.55%
Missouri 3.69%
Montana 1.70%
Nebraska 4.38%
Nevada 8.98%
New Hampshire 5.64%
New Jersey 3.33%
New Mexico 3.92%
New York 4.77%
North Carolina 4.53%
North Dakota -0.44%
Ohio 5.29%
Oklahoma 2.42%
Oregon 4.17%
Pennsylvania 3.91%
Rhode Island 3.75%
South Carolina 3.61%
South Dakota 2.41%
Tennessee 5.11%
Texas 3.56%
Utah 9.05%
Vermont 2.04%
Virginia 2.31%
Washington 4.53%
West Virginia 4.29%
Wisconsin 5.11%
Wyoming 4.26%

While home prices are still rising, more inventory on the market could drag down the rate of increase.1 The year-over-year appreciation rate slowed in February to 4.14% versus 5.2% in November 2018. Additionally, the absorption rate had a year-over-year decline of 22.40% in January. This typically indicates less demand and more inventory as fewer homes were sold in a given time period. Although it’s still a seller’s market, declines in both the appreciation and absorption rate suggest that housing sales may be less robust.

The top states for home appreciation were in the West: Idaho (rate of 10.45%), Utah (9.05%), Nevada (8.98%) and Arizona (6.52%). On the opposite end, prices in North Dakota depreciated by 0.44%—the only state with a decline.

1 Source data: CoreLogic®

Data date: 4/03/2019

 

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