A 1st quarter 2016 FHFA* report confirms what we have already been experiencing – the strong rebound in home values means a sizzling housing market for parts of the Gulf Coast. Based on the 100 most populated metropolitan areas in the U.S., the one-year appreciation figures show Naples at just a little over 11% and the Cape Coral-Fort Myers metro areas at 11.81%. Up the coast, the North Port-Sarasota-Bradenton area had a one-year appreciation of 14.02%. Elsewhere in Florida, Port St. Lucie took the number one spot nationwide with a one-year housing appreciation of 14.68%. See report of House Price Appreciation by State.
The top five states in annual appreciation were: 1) Oregon 11.8 percent; 2) Florida 11.2 percent; 3) Washington 10.9 percent; 4) Nevada 9.4 percent; and 5) Colorado 9.0 percent.
Among the 100 most populated metropolitan areas in the U.S., annual price increases were greatest in the West Palm Beach-Boca Raton-Delray Beach, FL (MSAD), where prices increased by 16.7 percent. Prices were weakest in El Paso, TX, where they fell 2.8 percent.
*Federal Housing Finance Agency