Texas ranks near the top in home price appreciation in the latest report covering June 2010. The U.S. Federal Housing Finance Agency recently released state-level data regarding home price appreciation for one year period ending in June 2010. Over the past year, Texas ranks third for home price appreciation with an increase of 1.4%. Only California and Iowa placed higher (see chart). The same data table shows that Texas ranks fourth for home price appreciation over the past 5 years with a gain of 15.88%. California, who placed first for growth over the past year, had a huge loss of -34.95% over the past 5 years. Iowa, which also ranked above Texas in the one-year rankings, saw a gain of only 5.55% over the past 5 years.
The clear indication is that Texas, when compared to the other states, is doing well in both the short-term and from a longer range perspective. Overall the U.S. saw a loss in home prices over the past year of -1.60% and a loss over the past 5 years of -4.41%. While much of the country went through a huge boom and bust period, Texas home prices have shown a steady, controlled increase over the past 5 years, which is one of the main reasons we have not experienced the same level of pain in the current economic recession as most of the rest of the United States. Here is a map that illustrates performance over the past year.