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Old 12-04-2008, 10:13 AM
509 509 started this thread
 
1,109 posts, read 1,575,236 times
Reputation: 952

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Here are the official numbers for the metro areas in Washington for the 3rd quarter of 2008. The clear winner is the Tri-Cities with a gain of 4.11% for the year and plus 0.80. Ranked 13th in the Nation for price appreciation.

http://www.ofheo.gov/media/PDF/3q08hpi.pdf (broken link)

Vancouver is included in the Portland, Oregon Metro area price trends. Given that Vancouver has lower property taxes and no income tax than Oregon I am not sure house prices would trend in similar fashion.

Metropolitan Area--One Year Price Trend

Wenatchee -1.47%
Yakima +1.27%
Spokane -0.70%
Seattle -2.97%
Tri-Cities +4.11%
Vancouver (PDX) -2.64%

For the 3rd Quarter

Wenatchee -2.71%
Yakima -1.48%
Spokane -1.83%
Seattle -2.20%
Tri-Cities +0.80%
Vancouver (PDX) -2.28%

Well the bad news is that 3rd Quarter price trends generally show greater price declines than one year data.

Oh well, be glad your not trying to sell a house in California, Arizona or Florida. Interesting reading in the report. Well, worth clicking on the link.
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Old 12-04-2008, 04:08 PM
 
Location: WA
4,054 posts, read 13,221,737 times
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Of the few sales and many offered for sale in my area of vancouver I observe a drop of 9% to 18% in price over the last year.
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Old 12-04-2008, 04:35 PM
509 509 started this thread
 
1,109 posts, read 1,575,236 times
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Quote:
Originally Posted by cdelena View Post
Of the few sales and many offered for sale in my area of vancouver I observe a drop of 9% to 18% in price over the last year.
I wonder if it is the price drop is related to the high cost of gasoline this summer.

The OFHEO reports have a consistent methodology as compared to realtor reports that merely report median prices. It would be interesting for someone to compare all the various reporting sources including Schiller. I like the OFHEO since they publish the reports quarterly, cover all metropolitan areas, and do not have a "position" to defend.

The only house that price matters is the one your trying to sell or buy.
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Old 12-04-2008, 08:00 PM
 
Location: WA
4,054 posts, read 13,221,737 times
Reputation: 2925
Quote:
Originally Posted by 509 View Post
...
It would be interesting for someone to compare all the various reporting sources including Schiller.
...
I know the Schiller index for Portland/Vancouver is down 9% over the 9/07 to 9/08 period. The larger drop I reported is a personal observation from watching about 20 properties in my zipcode over the last twelve months.
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