Metropolitan statistical area rankings for house-price appreciation from the Office of Federal Housing Enterprise Oversight (OFHEO) were released September 1.
Annual House Price Increase Rankings
The Pacific Division, which comprises California, Oregon, Washington, Hawaii and Alaska, showed the largest annual house price increase: 15.7%.
The West South Central division, which comprises Arkansas, Louisiana, Texas and Oklahoma, saw the smallest annual house price increase: 7%.
Only seven of the 220 ranked metropolitan statistical areas (MSAs) experienced negative quarterly growth, compared with 39 in the first quarter.
Metropolitan areas in California, Nevada and Florida continue to dominate the top 20 when ranked using annual price growth. Metro areas in Utah, Texas and North Carolina saw the worst appreciation.
OFHEO's House Price Index is published on quarterly basis and tracks average house price changes in repeat sales or refinancing of the same single-family properties. OFHEO's index is based on analysis of data obtained from Fannie Mae and Freddie Mac from more than 7.33 million repeat transactions over the last 29 years.