This News as Reported in the local Flagstaff newspaper

211917 Resource 178435 178982 1 1219880878293 1251404831908 Controlled Second Quarter Housing Data Released By Feds

Housing Data Shows That If You’ve Owned A Home in Flagstaff for 5-Years, You’ve Had a Good Investment

Home prices across the country fell a seasonally adjusted 1.4% in the second quarter, the Office of Federal Housing Enterprise Oversight reported Tuesday. Flagstaff home prices in this report were down slightly more than the national rate. The national drop was slightly less than the 1.7% drop seen during the first quarter. On a year-to-year basis, prices were down a record 4.8% between the second quarter of 2007 and the second quarter of 2008, OFHEO's data showed.  The Standard & Poor’s index, also released Tuesday, had a more dramatic drop of 15.4% in the second quarter on an annualized basis. The difference demonstrates the significance of understanding the source of housing statistics. The S&P index tracks only 20 major metropolitan areas while the OFHEO’s data is much broader. I discussed these differing indices in a <a title="Housing Indices explained" href="item/198568" target="_blank">report earlier this year</a>. Here is data from yesterday’s OFHEO report, including the numbers for Flagstaff homes and other Arizona areas. <table border="1" cellspacing="0" cellpadding="0" style="border-bottom: medium none; border-left: medium none; border-collapse: collapse; border-top: medium none; border-right: medium none"> <tbody> <tr> <td valign="top" width="144" style="border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 86.4pt; padding-right: 5.4pt; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-top: 0pt"> Location </td> <td valign="top" width="225" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 135pt; padding-right: 5.4pt; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-top: 0pt"> Change Last Quarter </td> <td valign="top" width="185" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 110.7pt; padding-right: 5.4pt; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-top: 0pt"> One-Year Change </td> <td valign="top" width="185" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 110.7pt; padding-right: 5.4pt; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-top: 0pt"> Five-Year Change </td> </tr> <tr> <td valign="top" width="144" style="border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 86.4pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> U.S. </td> <td width="225" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 135pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> -1.4% </td> <td width="185" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 110.7pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> -1.7% </td> <td width="185" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 110.7pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> 34.8% </td> </tr> <tr> <td valign="top" width="144" style="border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 86.4pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> Arizona </td> <td width="225" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 135pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> -4.4% </td> <td width="185" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 110.7pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> -9.2% </td> <td width="185" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 110.7pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> 62.7% </td> </tr> <tr> <td valign="top" width="144" style="border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 86.4pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> Flagstaff </td> <td width="225" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 135pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> -1.5% </td> <td width="185" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 110.7pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> -3.1% </td> <td width="185" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 110.7pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> 76.8% </td> </tr> <tr> <td valign="top" width="144" style="border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 86.4pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> Phoenix Metro </td> <td width="225" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 135pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> -5.2% </td> <td width="185" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 110.7pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> -11.1% </td> <td width="185" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 110.7pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> 62.9% </td> </tr> <tr> <td valign="top" width="144" style="border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 86.4pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> Tucson </td> <td width="225" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 135pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> -3.3% </td> <td width="185" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 110.7pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> -5.9% </td> <td width="185" style="border-bottom: windowtext 1pt solid; border-left: #ece9d8; padding-bottom: 0pt; background-color: transparent; padding-left: 5.4pt; width: 110.7pt; padding-right: 5.4pt; border-top: #ece9d8; border-right: windowtext 1pt solid; padding-top: 0pt"> 57.42% </td> </tr> </tbody> </table> <a title="Full report download" href="http://www.ofheo.gov/media/PDF/2q08hpi.pdf" target="_blank">Source: Office of Federal Housing Enterprise Oversight</a> For advice about buying or selling Flagstaff homes, contact <a title="Flagstaff real estate agents" href="http://bestflagstaffhomes.com/" target="_blank">Team Heitland at RE/MAX Peak Properties</a>. 9 application/xml false Flagstaff homes Flagstaff market report Flagstaff real estate Flagstaff real estate analysis Flagstaff real estate issues Pricing Flagstaff homes This News as Reported in the local Flagstaff newspaper Arizona Daily Sun, reporting from the Phoenix-based Capitol News Service http://azdailysun.com/articles/2008/08/27/news/local/20080827_local_180187.txt This Real Estate News as Reported on Market Watch The Wall Street Journal's online news service http://www.marketwatch.com/news/story/ofheo-says-us-home-prices/story.aspx?guid=57AD4F71-21D4-4F38-81D6-DB777BD12869 Explanation of Housing Data My post on earlier data explains the differences in the data-collection reports we receive http://blog.bestflagstaffhomes.com/public/item/198568 Mozilla/4.0 (compatible; MSIE 8.0; Windows NT 5.1; Trident/4.0; .NET CLR 1.0.3705; .NET CLR 1.1.4322; Media Center PC 4.0; .NET CLR 2.0.50727; Zune 3.0; .NET CLR 3.0.4506.2152; .NET CLR 3.5.30729) 127.0.0.1 127.0.0.1 $Admin 67.172.146.66 false true false false true 178975 false false true false false false true 178435 blog blogsite/BestFlagstaffHomes/web