Hot spots in the housing market

Your Money

July 17, 2005

Whether the housing market - or specific markets - are in a bubble is a matter of intense debate.

But what's clear is that housing prices continue to appreciate, in many cases sharply, around the country.

The latest data from the Office of Federal Housing Enterprise Oversight show that the average U.S. home price increased 12.5 percent in the 12 months ending March 31, with prices in every state showing at least a 4 percent gain, which outstripped the 3.1 percent inflation rate during that period.

Nevada showed the biggest jump, at 31 percent, followed by California at 25 percent. Fourteen of the 20 metropolitan areas with the biggest one-year jumps are in California, the other six are in Florida and Nevada.

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