Average U.S. Home Prices jump again in 3rd quarter

The Office of Federal Housing Enterprise Oversight (OFHEO) , the agency that regulates mortgage finance companies Fannie Mae and Freddie Mac, released figures this week that showed that housing prices in the United States jumped over 12% in the third quarter over 2004. OFHEO’s chief economist, Patrick Lawler, said in a statement issued with the report that the rate of increase in home prices in the third quarter "were extremely strong".

This report comes on the heels of a report earlier this year from OFHEO that showed the largest U.S. house price increase in more than 25 years for the second quarter of 2005. In that report, Lawler said, "There is no evidence here of prices topping out." contrary to reports of an eminent housing bubble burst.

According to these reports, now is still a good time for home sellers looking to lock-in gains from the five year run on real estate prices.

See Also

  • Average Home Prices Up 12%
    Pace slows from previous quarter, but increase still strong
  • HousingTracker
    Housing data (including median asking price and housing inventory) for cities/metros across the United States.