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New report documents cooling in Nevada home gains.
Byline: Hubble Smith
Sep. 6--Las Vegas ranked 90th in the nation for home appreciation in the second quarter with an 11.87 percent increase from the same period a year ago, the Office of Federal Housing Enterprise Oversight reported Tuesday.
That's slightly better than the national average of 10.06 percent.
The Washington, D.C.-based OFHEO's house price index showed quarterly appreciation of 1.17 percent nationwide, or 4.68 percent annualized rate, the steepest deceleration in prices since the index of 275 U.S. metro areas was established in 1975.
"These data are a strong indication that the housing market is cooling in a very significant way," OFHEO Director James Lockhart said in the report. "Indeed, the deceleration appears in almost every region of the country."
Nevada, usually among the top 10 states in home appreciation, slipped…
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Source: HighBeam Research, New report documents cooling in Nevada home gains.
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