Florida Ranks 5th in Home Appreciation Rate at 21,4%

WASHINGTON, D.C. -- June 2, 2005 -- Home prices in Florida are rising at a steady pace, according to a report released Wednesday, June 1.

The Office of Federal Housing Enterprise Oversight's (OFHEO) Home Price Index (HPI), shows that U.S. home prices increased 12.5 percent year over year in the first quarter of 2005, up from 11.9 percent during the previous 12-month period. Florida, meanwhile, ranked fifth with a 21.4 percent increase for the same period.

Preceding Florida, the highest appreciation rates from March 2004 to March 2005 were recorded in Nevada, California, Hawaii, and the District of Columbia at 31.2 percent, 25.4 percent, 24.4 percent and 22.2 percent, respectively. Texas and Indiana were last and second to last, where prices rose 3.8 percent and 4.1 percent, respectively.