U.S. home price appreciation continued to slow in the first quarter of 2019, with prices rising at the slowest pace in four years. According to the Federal Housing Finance Agency’s House Price Index, prices across the United States rose 1.15 percent compared to the preceding quarter and 5.05 percent compared to the same period last year. “House prices have risen consistently over the last 31 quarters”, said Dr. William Doerner, Supervisory Economist at the FHFA, adding that “the upward pace is softening across the country, especially among states with the largest supplies of housing”.
While house prices appreciated in all 50 states and the District of Columbia between Q1 2018 and Q1 2019, the pace of growth varies significantly across different regions. While house prices in Idaho and Nevada saw double-digit growth over the past twelve months, homes in Louisiana, Delaware, and Maryland appreciated by less than 1 percent. Looking at longer-term price trends, Nevada and Washington were the fastest appreciating housing markets, with prices up 65 and 59 percent, respectively, over the past five years. On average, home prices appreciated 33 percent since Q1 2014.
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