Price appreciation ranks Johnson City MSA 31st in nation on Home Price Index; Kingsport-Bristol posts decline
Feb 25, 2010 at 12:00 AM
The Johnson City Metropolitan Statistical Area is ranked 31st in the nation on the Federal Housing Finance Agency's seasonally adjusted purchase-only Home Price Index for the 4th quarter of 2009.Kingsport-Bristol showed a quarterly decline of 0.77 percent that ranked it 127th in the nation's MSAs.On the one-year HPI measure Johnson City home prices increased 0.20 percent while prices in the Kingsport Bristol MSA were down 2.7 percent.Tennessee ranked 25th in the nation on the 4th quarter index with a 0.10 percent price increase. The one-year data show a 0.62 home price decrease statewide.Nationwide house prices fell during the fourth quarter by 0.1 percent. The national index shows a 1.2 percent seasonally adjusted decline for the year. The FHFA Home Price index is based on single-family mortgages and refinancing of conventional Fannie Mae or Freddie Mac loans. Conventional mortgages are those that are neither insured or guaranteed by the FHA, VA or other government agencies.