4. The states with the greatest rates of appreciation between the fourth quarter of

2006 and the fourth quarter of 2007 were: Utah (9.3%), Wyoming (8.3%), North

Dakota (7.9%), Montana (6.9%), and Alaska (6.0%). The states with the lowest

rates of appreciation for the same period were: California (-6.6%), Nevada (-

5.9%), Florida (-4.7%), Michigan (-4.3%), and Rhode Island (-2.6%).

5. The Metropolitan Statistical Areas (MSAs) with the greatest rates of

appreciation between the fourth quarter of 2006 and the fourth quarter of 2007

were: Wenatchee, Washington (13.7%), Houma-Bayou, Louisiana (12.2%),

and Grand Junction, Colorado (12.0%). The MSAs with the lowest rates of

appreciation for the same period were: Merced, California (-19.0%), Modesto,

California (-15.5%), and Stockton, California (-15.3%).

6. Of the 291 cities on OFHEO’s list of “ranked” MSAs, 192 had positive fourquarter

appreciation and 99 had price declines.

7. Of the 20 ranked cities with the greatest price declines over the latest four

quarters, all but two were in California or Florida (Nevada and Michigan

accounted for the remainder).

The complete list of state appreciation rates can be found on pages 25 and 26.

The complete list of city (MSA) appreciation rates is available on pages 32 – 49.

From: http://www.ofheo.gov/media/pdf/4q07hpi.pdf