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Home price changes in major U.S. markets

Home price changesIn most parts of the country, single-family homes are solid financial investments. The median price for an existing home has increased 7.4 percent the past year.

Housing prices vary from region to region, but according to the National Association of Realtors quarterly survey, the median home price across the nation was $150,900 in the first quarter of 2002, up from $139,700 in the first quarter last year.

The highest jump in home values occurred in Worcester, Mass. Single-family home prices increased 25.2 percent, followed by Atlantic City, N.J., at 21.8 percent and Providence, R.I., at 19.3 percent. Home values fell the sharpest in Beaumont, Texas. Values in this Texas city, the hometown of country star George Jones, fell 8.1 percent followed by declines of 7.6 percent in Peoria, Ill., and 6.3 percent in Springfield, Mo.

Want to see how home values fared in your neighborhood? This chart shows the median price in thousands of dollars. It compares home values from the first quarter of 2001 with the first quarter of 2002. Not all cities reported their information, so some major metropolitan areas are left out.

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Median home prices: 2001 - 2002
ALABAMA
2001
2002
%
Change
Mobile
94.7
115.4
21.9%
ARKANSAS
2001
2002
%
Change
Little Rock/N. Little Rock
91.9
91.9
0%
ARIZONA
2001
2002
%
Change
Phoenix
135.5
141.7
4.6%
Tucson
117.2
137.6
17.4%
CALIFORNIA
2001
2002
%
Change
Orange County (Anaheim/Santa Ana MSA)
337.5
372.0
10.2%
Los Angeles area
225.2
265.0
17.7%
Riverside/San Bernardino
143.8
164.7
14.5%
Sacramento
161.5
185.7
15.0%
San Francisco Bay Area
484.3
482.3
-0.4%
COLORADO
2001
2002
%
Change
Denver
210.0
233.8
6.6%
CONNECTICUT
2001
2002
%
Change
Hartford
145.0
156.5
7.9%
New Haven/Meriden
159.1
173.5
9.1%
DELAWARE
2001
2002
%
Change
Wilmington
133.6
136.2
1.9%
DISTRICT OF COLUMBIA
2001
2002
%
Change
Washington, D.C.
183.7
229.1
19.8%
FLORIDA
2001
2002
%
Change
Daytona Beach
90.4
103.0
13.9%
Fort Lauderdale/Hollywood/Pompano Beach
157.4
181.2
15.1%
Fort Myers/Cape Coral
110.4
124.7
13.0%
Gainesville
114.0
124.7
9.4%
Jacksonville
101.1
108.5
7.3%
Melbourne/Titusville/Palm Bay
99.0
99.6
0.6%
Miami/Hialeah
152.0
172.5
13.5%
Orlando
118.0
127.5
8.1%
Pensacola
98.9
109.5
10.7%
Tallahassee
128.7
133.1
3.4%
Tampa/St. Petersburg/Clearwater
118.5
127.9
9.5%
West Palm Beach/Boca Raton/Delray Beach
139.4
159.1
14.1%
GEORGIA
2001
2002
%
Change
Atlanta
136.0
140.6
3.4%
HAWAII
2001
2002
%
Change
Honolulu
280.0
310.0
10.7%
IDAHO
2001
2002
%
Change
Boise City
130.2
130.0
-0.2%
ILLINOIS
2001
2002
%
Change
Aurora/Elgin
175.9
185.5
5.5%
Champaign/Urbana/Rantoul
92.5
95.1
2.8%
Chicago
184.3
198.0
7.4%
Lake County
169.8
184.5
8.7%
Peoria
87.5
81.2
-7.2%
Rockford
95.4
97.9
2.6%
Springfield
80.3
83.9
4.5%
INDIANA
2001
2002
%
Change
Fort Wayne
91.7
89.9
-2.0%
Gary/Hammond
104.9
104.2
-0.7%
Indianapolis
111.0
111.9
0.8%
South Bend/Mishawaka
85.1
84.3
-0.9%
IOWA
2001
2002
%
Change
Cedar Rapids
112.5
113.2
0.6%
Davenport/Moline/Rock Island
88.9
89.0
0.1%
KANSAS
2001
2002
%
Change
Topeka
76.8
91.0
18.5%
Wichita
91.7
95.7
4.4%
KENTUCKY
2001
2002
%
Change
Lexington/Fayette
116.8
125.3
7.3%
LOUISIANA
2001
2002
%
Change
Baton Rouge
111.5
110.4
-1.0%
New Orleans
111.4
116.5
4.6%
Shreveport
85.0
87.5
2.9%
MAINE
2001
2002
%
Change
Portland
118.9
128.0
7.7%
MARYLAND
2001
2002
%
Change
Baltimore
147.6
165.0
11.8%
MASSACHUSETTS
2001
2002
%
Change
Boston
345.1
358.0
3.7%
Springfield
119.4
129.7
8.6%
Worcester
136.0
170.3
25.2%
MICHIGAN
2001
2002
%
Change
Grand Rapids
121.7
121.6
-0.1%
Kalamazoo
114.1
110.7
-3.0%
Saginaw/ Bay City/Midland
80.6
83.1
3.1%
MINNESOTA
2001
2002
%
Change
Minneapolis/St. Paul
151.0
173.0
14.6%
Fargo/Moorhead, N.D./Minn.
96.4
102.9
6.7%
MISSISSIPPI
2001
2002
%
Change
Biloxi/Gulfport
94.3
95.6
1.4%
MISSOURI
2001
2002
%
Change
Kansas City, Mo./Kan.
130.4
133.5
2.4%
Springfield
95.8
89.8
-6.3%
NEBRASKA
2001
2002
%
Change
Lincoln
110.8
113.7
2.6%
Omaha
113.1
118.7
5.0%
NEVADA
2001
2002
%
Change
Las Vegas
142.7
153.1
7.3%
Reno
162.4
175.2
7.9%
NEW JERSEY
2001
2002
%
Change
Atlantic City
109.8
133.7
21.8%
Bergen/Passaic
268.7
295.8
10.1%
Middlesex/Somerset/Hunterdon
231.5
269.5
16.4%
Monmouth/Ocean
196.4
219.1
11.6%
Newark
243.4
279.2
14.7%
Trenton
161.6
154.6
-4.3%
NEW MEXICO
2001
2002
%
Change
Albuquerque
126.2
129.4
2.5%
NEW YORK
2001
2002
%
Change
Albany/Schenectady/Troy
116.6
127.5
9.3%
New York metro (incl. N. N.J., Long Island and Conn.)
236.3
285.6
20.9%
NORTH CAROLINA
2001
2002
%
Change
Charlotte/Gastonia/Rock Hill, NC/SC
141.0
145.5
3.2%
Greensboro/Winston-Salem/High Point
130.3
134.2
3.0%
Raleigh/Durham
163.4
169.1
3.5%
NORTH DAKOTA
2001
2002
%
Change
Fargo/Moorhead, N.D./Minn.
96.4
102.9
6.7%
OHIO
2001
2002
%
Change
Akron
110.0
103.7
-5.7%
Cincinnati
127.1
131.3
3.3%
Dayton/Springfield
108.1
106.1
-1.9%
OKLAHOMA
2001
2002
%
Change
Oklahoma City
92.6
103.1
11.3%
Tulsa
99.5
103.7
4.2%
OREGON
2001
2002
%
Change
Eugene/Springfield
132.1
135.9
2.9%
Portland
170.3
175.7
3.2%
PENNSYLVANIA
2001
2002
%
Change
Philadelphia
123.4
122.0
-1.1%
Pittsburgh
90.6
94.4
4.2%
RHODE ISLAND
2001
2002
%
Change
Providence
142.2
169.6
19.3%
SOUTH CAROLINA
2001
2002
%
Change
Charleston
147.5
153.8
4.3%
Columbia
112.0
116.7
4.2%
Greenville/Spartanburg
119.1
122.4
2.8%
TENNESSEE
2001
2002
%
Change
Chattanooga
99.9
111.9
12.0%
Knoxville
109.4
117.2
7.1%
Memphis
122.4
123.9
1.2%
TEXAS
2001
2002
%
Change
Amarillo
87.7
84.7
-3.4%
Austin/San Marcos
148.4
157.3
6.0%
Beaumont/Port Arthur
83.6
76.8
-8.1%
Corpus Christi
88.8
89.4
0.7%
Dallas
122.7
130.8
6.6%
El Paso
86.6
86.4
-0.2%
Houston
118.3
126.5
6.9%
San Antonio
98.0
104.0
6.1%
VIRGINIA
2001
2002
%
Change
Richmond/Petersburg
127.2
129.2
1.6%
WASHINGTON
2001
2002
%
Change
Seattle
235.7
247.6
5.0%
Spokane
100.2
104.6
4.4%
WEST VIRGINIA
2001
2002
%
Change
Charleston
99.5
106.8
7.3%
WISCONSIN
2001
2002
%
Change
Appleton/Oshkosh/Neenah
102.7
108.7
5.8%
Green Bay
120.7
125.6
4.1%
Madison
157.3
168.1
6.9%
Milwaukee
142.4
159.0
11.7%
Source: National Association of Realtors, Quarterly Housing Affordability Index

 

-- Posted: July 12, 2002
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National Mortgage Rates
OVERNIGHT AVERAGES
Rates may include points.
30 yr fixed mtg 4.07%
15 yr fixed mtg 3.13%
5/1 jumbo ARM 3.50%



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