Recently published data from the Federal Housing Finance Authority reports existing home sale values dropped by 1.2% from the fourth quarter of 2008. That compares very favorably to a 8.2% decline in the fourth quarter of 2008 over 2007.
The numbers for Greater Lafayette are more encouraging. Of the 298 Metropolitan Statistical Areas, Greater Lafayette's appreciation in housing value in the fourth quarter on a year over year basis, ranked number 32 with an average 0.19% appreciation. Other Indiana MSA's also fared well. In fact, Terre Haute was ranked number one.
City/Rank/Year to Year 4th Quarter Appreciation
Terre Haute/1/3.11%
Bloomington/20/0.83%
Evansville/29/0.43%
Lafayette/32/0.19%
Indy/53/-0.55%
South Bend/93/-1.70%
Anderson/102/-1.95%
Fort Wayne/123/-2.55%
Gary/149/-3.38%
Kokomo/208/-5.98%
Again, the processes measures and ranks appreciation in housing value from the fourth quarter of 2008 to the fourth quarter of 2009.
For those who spend time in the south, Florida continues to struggle. Here are the same statistics for selected Florida MSA's
Punta Gorda/191/-5.48%
Fort Meyers/263/-9.71%
Tampa-St. Pete/271/-10.75%
West Palm Beach/272/-10.86%
Naples/287/-8.03%
Miami/288/-14.02%
For those who are interested, the lowest rank MSA was Las Vegas, with a 19.30% average 12 month loss in value. Our issues in central Indiana appear less complicated as one reviews the economic statistics in other communities.
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