The real estate market in Bend, Oregon continues to show strength as the Federal Housing Finance Agency( FHFA) releases first quarter 2013 numbers for their House Price Index (HPI). Click here to view full size image.
The House Price Index shows homes in the Bend Metropolitan Statistical Area (MSA) had price gains of 7.69 percent year over year from the first quarter of 2012 through the first quarter of 2013. Those gains are enough to rank as the 20th best price improvement of all 374 Metropolitan Statistical Areas in the United States. The top three MSA’s for price gain were Phoenix-Mesa-Glendale, AZ (15.27%), Bismarck, ND (12.81%), and Stockton, CA (11.38%).
During the first quarter of this year home prices in Bend rose 3.71 percent according to the FHFA report. That is a better gain than 13 of the 19 MSA’s that ranked above Bend for annual percentage price improvement.
Oregon ranked 11th among all 50 states in the House Price Index. For the 12 months ending March 31, 2013 house prices in Oregon rose 10 percent. In the first quarter of this year prices were up 3.4 percent. The three states with the highest percentage price gains over the last year were; Nevada (22.0%), Arizona (19.8%) and California (16.6%).
The House Price Index for states was calculated using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. Transaction information from county recorder offices and the Federal Housing Administration was added to data from Fannie Mae and Freddie Mac in calculating the House Price Index for Metropolitan Statistical Areas.
A little more than one year after Business Insider called Bend the best real estate market to be invested in for the next five years it appears that while their predictions may not have been 100% accurate (so far), the House Price Index numbers do support the notion that Bend is one of the best places in the United States to be invested in real estate.
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