Home appreciation in Spokane

We reported today that Spokane-area homes that were purchased or refinanced appreciated 7.12 percent between the fourth quarter last year and the same period in 2006, according to the Office of Federal Housing Enterprise Oversight . That made Spokane No. 19 of the 20 top markets for appreciation last year, based on the OFHEO’s index . Nationally, the purchase-only index declined .3 percent last year, the first annual drop in 16 years.

For additional context on what that rate of appreciation means for Spokane, check out this chart showing the fourth quarter year-to-year percentage appreciation as stated by past OFHEO report: