Appreciating housing markets share key indicators

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Isolated metropolitan areas are enjoying home price appreciation levels ranging from a flat 0.1 percent to a booming 12.2 percent, at least according to the National Association of Realtors' (NAR) 1st Quarter 2011 Metropolitan Median Area Prices

by Broderick Perkins
© 2011 DeadlineNews.Com

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Deadline Newsroom - Home prices have crashed back to 2002 levels and the double dip is on, but nearly three dozen markets are enjoying varying levels of home price appreciation.

A few of those markets experienced double digit gains, but maintained affordable prices and status as a buyer's market.

The much watched Case-Shiller National Home Price Index for single-family homes fell 5.1 percent to a new recession low in the first quarter 2011, compared to the first quarter 2010.

For the month of March 2011, only Washington, D.C. homes enjoyed a price gain (4.3 percent), compared to March 2010, as home prices tumbled in the other 19 of the 20 indexed Metropolitan Statistical Areas (MSAs) for the same period.

Twelve of the 20 MSAs and the 20-City Composite posted new lows.

"This month’s report is marked by the confirmation of a double-dip in home prices across much of the nation," said David M. Blitzer, Chairman of the Index Committee at S&P Indices.

However, isolated metropolitan areas are enjoying home price appreciation levels ranging from a flat 0.1 percent to a booming 12.2 percent, at least according to the National Association of Realtors' (NAR) 1st Quarter 2011 Metropolitan Median Area Prices.

Get the full story here: "Appreciating Housing Markets Share Key Indicators"

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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

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