Kingsport-Bristol, Johnson City MSA 1-yr FHFA Indices show 2%+ appreciation


By DON FENLEY

Third quarter home prices in both Tri-Cities MSAs were more than 2% better than they were during Q3 last year.

Q3 2014 1 yr

% change Q3 FHFA All-Transaction HPI.

The just released Federal Housing Finance Agency’s All-Transaction HPI also shows the 5-year HPI for both MSA is back in positive territory.

The 1-year HPI are:

– Johnson City, up 2.35%.

– Kingsport-Bristol, up 2.2%.

The Q3 five-year indices are:

– Kingsport-Bristol, up 1.73%

– Johnson City, up 0.19%.

Kingsport-Bristol recovered from a Q2 dip that broke a string of five straight quarterly increases on the 1-year metric. Q3 was the third straight quarterly year-over-year gain for the Johnson City MSA.

The 5-year HPI shows a bottoming out on the long-term metric. With the exception of a positive spike during Q2.

Q3 2014 5 yr

% change 5-year FHFA All-Transaction Index.

FHFA’s all-transactions indexes average house price changes in either repeat sales or refinancings on the same single-family properties.  The all-transactions index is calculated using both sales prices and appraisal values from refinance mortgages.

Both indexes are based on data obtained from Fannie Mae and Freddie Mac for mortgages originated over the past 38 years.

The actual Kingsport-Bristol index in Q3 this year was 189.08. It the Johnson City MSA it was 178.45.

The Kingsport-Bristol index represents an 89.08% cumulative appreciation since Q1 1991. In the Johnson City MSA the cumulative appreciation is 78.45%.

 

 

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