Every night on the news we hear about the problems with the national housing market. But USAA Magazine recently (Summer 2008 edition) published some interesting statistics that help put the current conditions into perspective. In fact, they list the Washington State real estate market as one of the “hottest” markets in the country right now!
The USAA article, titled “Real Estate Running Hot and Cold”, discusses data provided by the Office of Federal Housing Enterprise Oversight.
The article points out that even in some of the hardest hit states, like California, Nevada, and Florida, housing prices are still significantly higher than five years ago.
For example, though California has had a drop in value of 6.65% in the past year (Dec 2006 to Dec 2007), it has still experienced 69% growth when you look at the long term–over 5 years.
And the great news for all of us interested in Pierce county real estate is that Washington State real estate was considered one of the “hottest” markets on their list! According to their data, Washington State home values have appreciated 5.44% over the twelve month period that ended last December.
And Washington home values are up almost 67% more than five years ago! Great news for anyone concerned about the stability and long-term viability of our local housing market.
What do you think? Share your thoughts on our blog. I’d love to hear from you!
\
