Thursday, December 02, 2004

Third-quarter real estate prices jump 13%

Nevada records highest statewide increase

Average U.S. home prices increased nearly 13 percent from the third quarter of 2003 to the third quarter of this year, according to the Office of Federal Housing Enterprise Oversight's house price index.

Appreciation for the most recent quarter was 4.62 percent, or an annualized rate of 18.5 percent.

"The appreciation reflected in this quarter's report shows further acceleration from already rapid increases," said Armando Falcon Jr., director of OFHEO. "The growth in house prices over the past year surpasses any increase in 25 years."


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