Michigan home values rank 7th in the Nation for price increases.
Michigan home values are increasing. According to a recent report by the Federal Housing Finance Agency, Michigan home values are up an average of 9.43% in the last year. This puts Michigan in the Top 10 for home value increases.
The top states are those in the West, with Michigan and Minnesota standing out from the rest of the Great Lake States with higher than normal home value increases.
Nevada had the nation’s highest gains at 24.32% over the last year. West Virginia is at the bottom of the list with -1.78% loss in home values. It should be noted that West Virginia was the only state in the Country with a loss in home values. The rest of the Country was all in the positive.
FHFA is reporting the entire US Four-Quarter Appreciation is up 7.7%.
According to NAR, the median existing-home price for all housing types for the entire Country in January was $188,900, up 10.7 percent from January 2013.
Source: Realtor.org
State HPI Summary
Change in FHFA State House Price Indexes
(Seasonally Adjusted, Purchase-Only Index, 2013Q4)
(Seasonally Adjusted, Purchase-Only Index, 2013Q4)
| Region | Rank | 1 Quarter | 1 Year | 5 Years | Since 1991Q1 |
|---|---|---|---|---|---|
| USA | 1.20 | 7.69 | 4.18 | 105.04 | |
| NV | 1 | 4.13 | 24.32 | 1.37 | 62.88 |
| CA | 2 | 2.50 | 19.50 | 19.41 | 104.78 |
| AZ | 3 | 3.76 | 15.22 | 2.71 | 132.39 |
| OR | 4 | 2.64 | 12.87 | -1.67 | 199.23 |
| FL | 5 | 2.84 | 12.63 | 2.58 | 110.53 |
| GA | 6 | 2.44 | 11.36 | 1.03 | 78.76 |
| MI | 7 | 0.62 | 9.43 | 9.70 | 68.92 |
| UT | 8 | 1.01 | 9.29 | 1.30 | 191.35 |
| CO | 9 | 1.80 | 9.10 | 18.10 | 209.39 |
| HI | 10 | 3.12 | 7.93 | 2.58 | 108.29 |
| MN | 11 | 0.47 | 7.60 | 3.78 | 128.09 |
| TX | 12 | 1.92 | 7.32 | 14.85 | 116.74 |
| ID | 13 | 0.98 | 7.12 | -5.63 | 123.51 |
| VT | 14 | 1.88 | 7.03 | 3.58 | 119.53 |
| DC | 15 | -3.46 | 6.99 | 27.85 | 312.99 |
| MA | 16 | 1.50 | 6.82 | 5.08 | 132.61 |
| IL | 17 | 2.18 | 6.78 | -7.09 | 80.03 |
| WA | 17 | -0.24 | 6.78 | -5.37 | 139.68 |
| SC | 19 | 0.15 | 6.68 | -1.02 | 88.98 |
| TN | 20 | 1.32 | 6.67 | 4.25 | 100.90 |
| NC | 21 | 0.53 | 6.20 | -1.31 | 91.17 |
| ND | 22 | 0.92 | 6.11 | 27.74 | 172.83 |
| MT | 22 | 2.42 | 6.11 | 6.91 | 225.09 |
| SD | 24 | 1.27 | 5.84 | 10.54 | 145.88 |
| WI | 25 | 0.94 | 5.46 | -2.66 | 111.27 |
| MD | 26 | 0.00 | 5.42 | -0.45 | 122.64 |
| OH | 27 | 1.15 | 5.31 | 2.16 | 62.78 |
| NM | 28 | 1.07 | 4.85 | -8.35 | 113.68 |
| IA | 29 | 1.48 | 4.82 | 6.03 | 109.29 |
| NH | 30 | -0.20 | 4.74 | -3.00 | 98.79 |
| LA | 30 | 1.19 | 4.74 | 6.48 | 143.61 |
| NE | 32 | 1.47 | 4.56 | 9.62 | 110.73 |
| IN | 33 | 0.24 | 4.21 | 5.90 | 68.39 |
| NY | 34 | 1.19 | 3.69 | -0.17 | 111.49 |
| PA | 35 | 0.30 | 3.66 | 1.12 | 95.06 |
| AL | 36 | 0.65 | 3.53 | -2.48 | 88.00 |
| MO | 37 | 0.20 | 3.42 | -0.23 | 92.08 |
| WY | 38 | 1.59 | 3.24 | 1.69 | 208.37 |
| KY | 39 | 0.10 | 3.01 | 4.01 | 96.12 |
| NJ | 40 | 0.07 | 2.86 | -8.53 | 113.78 |
| KS | 41 | -0.29 | 2.84 | 1.40 | 97.51 |
| VA | 41 | -0.43 | 2.84 | 3.03 | 122.23 |
| AK | 43 | 0.18 | 2.41 | 3.87 | 134.02 |
| OK | 44 | -0.76 | 2.04 | 7.68 | 103.66 |
| MS | 45 | 0.36 | 1.76 | -3.47 | 79.41 |
| ME | 46 | -1.23 | 1.32 | -0.29 | 106.18 |
| RI | 47 | -3.41 | 1.16 | -8.55 | 80.97 |
| CT | 48 | -0.88 | 1.15 | -8.84 | 66.54 |
| AR | 49 | -1.98 | 0.50 | 0.06 | 86.67 |
| DE | 50 | -1.99 | 0.12 | -9.08 | 80.58 |
| WV | 51 | -0.79 | -1.78 | 2.57 | 96.49 |
Read the entire FHFA report here.