Home values dip

August 27, 2008

Maryland home values dropped 4 percent in April through June compared with the same period a year earlier, according to figures that track sales and refinancing. The Office of Federal Housing Enterprise Oversight said yesterday that the drop was the seventh largest in the country.

Even so, home values in the state are 66 percent higher than they were five years ago, OFHEO said. That's behind only Washington, D.C., and Hawaii.

Year-over-year drop in home values for the three months ending June 30:

1. California, down 15.8 percent

2. Nevada, down 14.1 percent

3. Florida, down 12.4 percent

4. Arizona, down 9.2 percent

5. Rhode Island, down 4.9 percent

6. Michigan, down 4.7 percent

7. Maryland, down 4 percent

8. Washington, D.C., down 3.4 percent

(tie) 9. Massachusetts, down 2.9 percent

(tie) 9. New Jersey, down 2.9 percent

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