Michigan Housing Price Appreciation

The Office of Federal Housing Enterprise Oversight released their 4th Quarter 2005 Housing Price Appreciation index. By Metropolitan Statistical Area, here are the numbers for Michigan (numbers represent a percent change from 1-year, 1-quarter and 5-years):

Metropolitan Statistical Area 1-Year Quarter 5-Years
Ann Arbor 2.52% -1.03% 24.94%
Battle Creek 4.50% 2.22% 26.33%
Bay City 4.30% -1.75% 22.44%
Detroit-Livonia-Wayne County 2.03% 0.22% 20.39%
Flint 2.50% -0.44% 21.42%
Grand Rapids-Wyoming 4.07% 0.90% 23.49%
Holland-Grand Haven 3.67% -0.16% 22.35%
Jackson 5.81% 2.68% 28.80%
Kalamazoo-Portage 3.68% 0.61% 24.23%
Lansing-East Lansing 5.00% 1.47% 29.77%
Muskegon-North Shores 2.55% -0.14% 21.50%
Niles-Benton Harbor =====> 11.33% 5.00% 36.93%
Oakland County (Farmington, Bloomfield, Troy) 3.35% 0.72% 21.31%
Saginaw-Saginaw Township North 2.04% 0.07% 19.57%
Michigan (51 out of 51) 3.76% 0.70% 23.51%

By way of comparison, the averages for the United States were 12.95% for one year, 2.86% for one quarter , and 57.68% for the last five years.

[Hat-Tip to Dante]

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0 Responses to Michigan Housing Price Appreciation

  1. Thanks for the comment! Your comment got caught in the spam filter.

    The slowdown will be primarily in appreciation rates. I know here in SE Michigan, sellers are really bummed that the property appreciation rates of just 3 years ago don’t exist in today’s market.

    TW

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