Home values continue to depreciate in Whatcom County and across most of the nation, according to a new federal report.
The Federal Housing Finance Agency estimates that home prices in the second quarter depreciated 6.9 percent in Whatcom County compared to a year earlier. It’s also down 11.2 percent compared to the second quarter of 2006.
The FHFA uses home purchases and refinance data from Fannie Mae and Freddie Mac to come up with its index.
Below is a list of Washington metro areas, with Kennewick being the only to experience year-over-year home appreciation.
HOME PRICES IN WASHINGTON COMMUNITIES
Changes in the all-transaction House Price Index for Washington metro areas from the second quarter of 2011:
Area, Year-over-year change, Five-year change
Bellingham, down 6.9 percent, down 11.2 percent
Bremerton, down 6.9 percent, down 17.3 percent
Kennewick, up 0.3 percent, up 10.6 percent
Longview, down 8.1 percent, down 13.3 percent
Mount Vernon, down 8.2 percent, down 14.7 percent
Olympia, down 9 percent, down 13.4 percent
Seattle, down 7.4 percent, down 16.2 percent
Spokane, down 7.4 percent, down 8.1 percent
Tacoma, down 8.2 percent, down 19.8 percent
Wenatchee, down 5.6 percent, up 4.2 percent
Yakima, down 2.9 percent, up 3.4 percent
SOURCE: FEDERAL HOUSING FINANCE AGENCY
According to Zillow, my place went UP 3% this month.
Yeah, Zillow focuses on nearby sales to determine your price, so maybe things are heating up in your neighborhood.
So if prices are still heading down who is buying all the new houses in Lynden?