U.S. home values continue climb

Real Estate Watch

metro area lags

September 24, 2000

Home values across the nation continued their upward march, growing at an annual rate of 6.9 percent for the second quarter that ended June 30, according to Freddie Mac's Conventional Mortgage Home Price Index.

Baltimore-area home values lagged below the national figure, climbing at an annualized rate of 5.37 percent through the second quarter. In the past five years, values have increased at an annualized rate of 18.05 percent.

The index is based on sales or appraised values of the same homes over time. More than 12.1 million homes are tracked by Freddie Mac.

Home values in the mid-Atlantic region continued to rise, although not at the national pace. The region grew at an annualized rate of 6.1 percent. In the past 12 months, home values in the mid-Atlantic states have increased 7.3 percent, and 24.2 percent over five years.

The New England region continued to outpace the national average, registering an 11.1 percent growth rate in the second quarter and 10.2 percent in the first quarter. Midwestern states posted the next highest growth.

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