Home Values Within 12.5 Percent Of April 2007 Peak, Nationwide

According the Federal Home Finance Agency’s Home Price Index, home values are now off [just 12.5 percent from their April 2007 peak](http://www.fhfa.gov/ "FHFA Home Price Index") nationwide.  This, after a [half-percent](http://tedxflint.com/getting-a-tn-visa-step-by-step-guidance/) monthly increase in prices in May, on average. Given the state of the market since April 2007, the Home Price Index results are a positive for both the housing market and the economy, but we have to remember that May’s half-point increase is an _average_, and not specific to a particular area. In contrast to “national markets”, the real estate markets in which you and I live are decidedly _local_.  It’s a major difference and the distinction renders the Home Price Index somewhat less important. After all, the HPI doesn’t account for housing activity in individual neighborhoods , nor does it track value across cities. Instead, it summarizes data in giant chunks of geography. A quick look at the HPI regional data proves the point. Of the HPI’s 9 tracked regions, only one was within one-tenth of one percent of the national, half-point average.  The others varied by as much 1.3 percent. As a sample: - Mountain Region : + 1.7 percent - New England : + 0.2 percent - South Atlantic : +1.0 percent And this is on a _regional_ basis. The HPI’s applicability to state, city and neighborhood markets is even less appropriate. Real estate values cannot be captured in a national survey. For home buyers and seller, what matters is the economics of a block, on a street, in a neighborhood.  That type of granularity can’t be tracked in a report like the Home Price Index. The best place to get _that_ data is from a local real estate agent that knows the market well. Share and Enjoy: [](http://digg.com/submit?phase=2&url=http%3A%2F%2Fwww.michaelhaighteam.com%2Fhome-price-index%2Fhome-price-index-may-2010%2F&title=Home%20Values%20Within%2012.5%20Percent%20Of%20April%202007%20Peak%2C%20Nationwide&bodytext=According%20the%20Federal%20Home%20Finance%20Agency%27s%20Home%20Price%20Index%2C%20home%20values%20are%20now%20just%2012.5%20percent%20off%20their%20April%202007%20peak%20nationwide.%20%20This%20after%20a%20half-percent%20monthly%20increase%20in%20prices%20in%20May%2Con%20average. "Digg") [](http://delicious.com/post?url=http%3A%2F%2Fwww.michaelhaighteam.com%2Fhome-price-index%2Fhome-price-index-may-2010%2F&title=Home%20Values%20Within%2012.5%20Percent%20Of%20April%202007%20Peak%2C%20Nationwide¬es=According%20the%20Federal%20Home%20Finance%20Agency%27s%20Home%20Price%20Index%2C%20home%20values%20are%20now%20just%2012.5%20percent%20off%20their%20April%202007%20peak%20nationwide.%20%20This%20after%20a%20half-percent%20monthly%20increase%20in%20prices%20in%20May%2Con%20average. "del.icio.us") [](http://www.facebook.com/share.php?u=http%3A%2F%2Fwww.michaelhaighteam.com%2Fhome-price-index%2Fhome-price-index-may-2010%2F&t=Home%20Values%20Within%2012.5%20Percent%20Of%20April%202007%20Peak%2C%20Nationwide "Facebook") [](http://www.printfriendly.com/print?url=http%3A%2F%2Fwww.michaelhaighteam.com%2Fhome-price-index%2Fhome-price-index-may-2010%2F&partner=sociable "PDF") [](http://www.michaelhaighteam.com/feed/ "RSS") [](http://www.stumbleupon.com/submit?url=http%3A%2F%2Fwww.michaelhaighteam.com%2Fhome-price-index%2Fhome-price-index-may-2010%2F&title=Home%20Values%20Within%2012.5%20Percent%20Of%20April%202007%20Peak%2C%20Nationwide "StumbleUpon") [](http://twitter.com/home?status=Home%20Values%20Within%2012.5%20Percent%20Of%20April%202007%20Peak%2C%20Nationwide%20-%20http%3A%2F%2Fwww.michaelhaighteam.com%2Fhome-price-index%2Fhome-price-index-may-2010%2F "Twitter") Related posts: 1. [The Home Price Index Shows Home Values Lower Broadly, But Not Specifically](http://www.michaelhaighteam.com/home-price-index/home-price-index-january-2010/ "Permanent Link: The Home Price Index Shows Home Values Lower Broadly, But Not Specifically") 2. [The Flawed Home Price Index Shows Home Values Up 0.8 Percent](http://www.michaelhaighteam.com/home-price-index/home-price-index-april-2010/ "Permanent Link: The Flawed Home Price Index Shows Home Values Up 0.8 Percent") 3. [Home Values Rose In November 2009 By Another 0.7 Percent](http://www.michaelhaighteam.com/uncategorized/home-values-rose-in-november-2009-by-another-0-7-percent/ "Permanent Link: Home Values Rose In November 2009 By Another 0.7 Percent")  Posted in [Real Estate Market Updates & Reports](https://cherylbowerrealestate.com/category/sfrealestatemarketreportsbuyerssellers/) and tagged [Home Price Index](https://cherylbowerrealestate.com/tag/home-price-index/), [Home Values](https://cherylbowerrealestate.com/tag/home-values/), [HPI](https://cherylbowerrealestate.com/tag/hpi/)