Home Price Growth Continues at Robust Pace

I found the following news report pertinent to our Sublette County Real Estate Market. Our local Home Prices, as reported by several Appraisers, is climbing at 1 to 1 1/2% increase per month.

Inman News Reports:

Home Price Growth Continues at Robust Pace
Index shows annual rise of nearly 13% nationwide

House-price appreciation continued at a robust pace at the end of 2005, with average home prices increasing 12.95 percent from the fourth quarter 2004 through the fourth quarter 2005, according to the Office of Federal Housing Enterprise Oversight.
Appreciation for the most recent quarter was 2.86 percent, or an annualized rate of 11.4 percent, according to OFHEO's figures released last week. The increase during 2005 is similar to the revised increase of 12.55 percent for the year ended with the third quarter of 2005, showing no evidence of a slowdown in average prices.
"Despite recent indications that a slowdown may be forthcoming, house-price appreciation during 2005 continued to hover at near-record levels," said OFHEO Chief Economist Patrick Lawler.
House prices continued to grow considerably faster over the past year than did prices of non-housing goods and services reflected in the Consumer Price Index. House prices rose 12.95 percent, while prices of other goods and services rose only 4.3 percent.

Lisa Marchetti at Wells Fargo Home Mortgage in Rock Springs just faxed us her recent Price Blast. A 30 Year Fixed Conforming Conventional Loan up to $417,700 is at 6.25%. Her fax quoted Holden Lewis, Sr. Reporter at Bankrate.com, "We should see a big bounce in the coming week because mortgage rates are lagging behind a rise in bond yields."

Check out Gloria Good's, First Horizon Loans website at www.gloriagood.com

It's another beautiful day in Sublette County.