Thumbs Down: Home Prices Slowing

Physician's Money Digest, January31 2004, Volume 11, Issue 2

Home prices in the United Stateshave been on a tear for the pastseveral years, but recent data fromthe federal government suggest thatthe rise in housing costs is slowingdown. In the 12 months ending inSeptember 2003, home prices rose ata 5.6% clip, down from the peak of8.2% recorded in the middle of 2001.Home prices rose in all 50 states andthe District of Columbia, with RhodeIsland leading the price parade witha 12.3% increase. Utah, where homeprices went up just 1.8%, was last onthe list. In Fresno, Calif, home costsjumped 16%, while other warm-weathercities like San Diego, Miami,Los Angeles, and Fort Lauderdale alsosaw hefty price increases.