Where Home Prices are Rising … and Falling

[Valerie S. Johnson]

By Valerie S. Johnson

Recently we provided on some statistics that Bankrate.com reported for the top ten highest- and lowest-price housing markets in 2006.

If you’re in the market for residential real estate, it may be more helpful to know which geographic areas are gaining in value. Based on data from the National Association of Realtors, Bankrate.com listed the 10 areas with the greatest percentage of annual gain in value, and at the other end of the spectrum, the 10 areas with the greatest percentage of annual loss in value. Florida is the only state that appears on both lists.

Top 10 Biggest Value Gainers and One-Year Appreciation Rate

1. Salem, OR, 19.8%
2. Virginia Beach-Norfolk-Newport News, VA-NC, 19.4%
3. Spokane, WA, 17.7%
4. Salt Lake City, UT, 16.7%
5. Eugene-Springfield, OR, 16.7%
6. Baton Rouge, LA, 15.9%
7. Gainesville, FL, 15.9%
8. Ocala, FL, 15.5%
9. Dover, DE, 14.7%
10. Portland-Vancouver-Beaverton, OR-WA, 14.7%

Top 10 Biggest Value Losers and One-Year Loss Rate

1. Detroit-Warren-Livonia, MI, -7.4%
2. Toledo, OH, -6.2%
3. Sarasota-Bradenton-Venice, FL, -5.6%
4. Akron, OH, -4.9%
5. Youngstown-Warren-Boardman, OH-PA, -4.8%
6. Bloomington-Normal, IL, -4.4%
7. South Bend-Mishawaka, IN, -4%
8. Indianapolis, IN, -3.6%
9. Cleveland-Elyria-Mentor, OH, -3.2%
10.Lansing-E.Lansing, MI, -3.2%

The Bankrate.com report is here.