HOUSING PRICES - MIDDLE ATLANTIC

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WASHINGTON, D.C. MSA

HPI Price Walk - All Tiers:

2000 to Peak: Home prices rose 151%, or 14.6% annualized.

Peak to Trough: Decline of 34%, or (14.5)% annualized.

Trough to Current: Home prices rising - up 37% recovering only portion of price losses; or 3.6% annualized.

Current from Peak: Home prices remain (9)% below peak.

HPI Price Walk - Low Tier:

2000 to Peak: Home prices triple and rose 197%, or 16.9% annualized.

Peak to Trough: Decline of 46%, or (23.9)% annualized.

Trough to Current: Home prices rising - up 62% recovering only portion of price losses; or 4.9% annualized.

Current from Peak: Home prices remain (13)% below peak.

Trends in Yearly Home Prices:  Significant rises in home prices prior to Great Recession. Significant declines in home prices during Great Recession. Strong bounce-back spike in home prices followed by moderate price gains.

Trends in Yearly Home Prices: Significant rises in home prices prior to Great Recession. Significant declines in home prices during Great Recession. Strong bounce-back spike in home prices followed by moderate price gains.

HPI Tiers:   All price tiers show significant increases. All price tiers remain well below pre-recession peaks. Low-tier recently exhibiting steep price rises relative to other tiers.

HPI Tiers:

All price tiers show significant increases. All price tiers remain well below pre-recession peaks. Low-tier recently exhibiting steep price rises relative to other tiers.

Home Affordability: Home affordability is better or less costly than U.S. averages.

Home "P/E" ratio = 3.4X. Median home purchase is +3X median family income compared to 3.7X for U.S.

HOI = 64.7%. ~65% of families can afford median priced home (NAHB HOI).

HPI vs. CPI:   Pre-recession home price increases rapid and decline steep. Trough short. Increases in home price since have been very steady. Home prices values soundly positive to CPI inflation measure. Price recovery has occurred even though Washington DC MSA remains with a significant level of homes with negative equity (per CoreLogic report = +6% of all homes with mortgages are underwater).

HPI vs. CPI:

Pre-recession home price increases rapid and decline steep. Trough short. Increases in home price since have been very steady. Home prices values soundly positive to CPI inflation measure. Price recovery has occurred even though Washington DC MSA remains with a significant level of homes with negative equity (per CoreLogic report = +6% of all homes with mortgages are underwater).


CHARLOTTE MSA

HPI Price Walk:

2000 to Peak: Home prices rose only 36%, or 4.1% annualized.

Peak to Trough: Decline of 20%, or (5.1)% annualized.

Trough to Current: Home prices rising - up 47% recovering all price losses, or 5.5% annualized.

Current from Peak: Home prices now 17% above peak.

 
Trends in Yearly Home Prices:  Moderate rises in home prices prior to Great Recession. Moderate declines in home prices during Great Recession. Strong bounce-back spike in home prices followed by moderate price gains.

Trends in Yearly Home Prices: Moderate rises in home prices prior to Great Recession. Moderate declines in home prices during Great Recession. Strong bounce-back spike in home prices followed by moderate price gains.

HPI vs. CPI:   Pre-recession price rise not notably rapid; decline also not dramatic, Trough period was sustained and price recovery steady. Note that on CPI inflation comparison, the home value lost has only recently been recovered.

HPI vs. CPI:

Pre-recession price rise not notably rapid; decline also not dramatic, Trough period was sustained and price recovery steady. Note that on CPI inflation comparison, the home value lost has only recently been recovered.

HPI Tiers:    There is no tiered HPI data available for this MSA.

HPI Tiers:

There is no tiered HPI data available for this MSA.

Home Affordability: Home affordability is better or less costly than U.S. averages.

Home "P/E" ratio = 3.2X. Median home purchase is +3X median family income compared to 3.7X for U.S.

HOI = 65.2%. ~65% of families can afford median priced home (NAHB HOI).


ATLANTA MSA

HPI Price Walk - All Tiers:

2000 to Peak: Home prices rose only 36%, or 4.2% annualized.

Peak to Trough: Decline of 40%, or (10.7)% annualized.

Trough to Current: Home prices rising - up 80% recovering all price losses; or 7.9% annualized.

Current from Peak: Home prices now 9% above peak.

HPI Price Walk - Low Tier:

2000 to Peak: Home prices rose only 38%, or 4.7% annualized.

Peak to Trough: Decline of 66%, or (20.0)% annualized.

Trough to Current: Home prices triple - up 222% recovering all price losses; or 17.0% annualized.

Current from Peak: Home prices 10% above peak.

Trends in Yearly Home Prices:  Moderate rises in home prices prior to Great Recession. Significant declines in home prices during Great Recession. Strong bounce-back spike in home prices followed by moderate price gains.

Trends in Yearly Home Prices: Moderate rises in home prices prior to Great Recession. Significant declines in home prices during Great Recession. Strong bounce-back spike in home prices followed by moderate price gains.

HPI Tiers:   All price tiers show moderate increases. High-tier and mid-tier have topped pre-recession peaks; and the lower tier is approaching that peak.

HPI Tiers:

All price tiers show moderate increases. High-tier and mid-tier have topped pre-recession peaks; and the lower tier is approaching that peak.

Home Affordability: Home affordability is better or less costly than U.S. averages.

Home "P/E" ratio = 3.3X. Median home purchase is +3X median family income compared to 3.7X for U.S.

HOI = 62.0%. ~62% of families can afford median priced home (NAHB HOI).

HPI vs. CPI:   Pre-recession price rise not notably rapid; decline also not dramatic, Trough period was sustained and price recovery steady. Note that on CPI inflation comparison, the home value lost has not yet been recovered.

HPI vs. CPI:

Pre-recession price rise not notably rapid; decline also not dramatic, Trough period was sustained and price recovery steady. Note that on CPI inflation comparison, the home value lost has not yet been recovered.