House prices increased year-over-year in 46 states, led by New York (8.0%), Connecticut (7.8%), New Jersey (7.5%), Mississippi (7.3%), and Illinois (6.7%). Prices fell in only four states and the District of Columbia, with the District of Columbia posting the largest decline of 7.6%. Among the 100 largest metropolitan areas, 81 saw price increases over the prior four quarters; Rochester, N.Y., recorded the largest annual gain at 10.3% while North Port-Bradenton-Sarasota, Fla., had the largest decline at 11.2%. All nine census divisions posted positive annual changes, with the Middle Atlantic up 6.7% and the Pacific showing the smallest four-quarter gain at 0.9%. FHFA's HPI uses tens of millions of home sales for national, regional, state, metro, county, ZIP code and census tract level measures, with the next monthly report due Sept. 30 and the next quarterly report due Nov. 25.
House prices rose in 46 states year over year, with the top five states with the highest annual appreciation being 1) New York, 8.0%; 2) Connecticut, 7.8%; 3) New Jersey, 7.5%; 4) Mississippi, 7.3%; and 5) Illinois, 6.7%. House prices were down in only four states and the District of Columbia, which experienced the most significant price decline at 7.6%.
Out of the 100 largest metropolitan areas, house prices rose in 81 areas over the previous four quarters. The annual price increase was the greatest in Rochester, N.Y., at 10.3%, while the metropolitan area that experienced the most significant price decline was North Port-Bradenton-Sarasota, Fla., at 11.2%. All nine census divisions posted positive house price changes year-over-year; the Middle Atlantic division recorded the strongest appreciation of 6.7% year-over-year. Conversely, the Pacific division recorded the smallest four-quarter appreciation at 0.9%.
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