Graph of the Day for October 14, 2009

By Randall Hoven

"Our housing crisis was born of eroding home values, but it was also an erosion of our common values, and in some case, common sense. It was brought about by big banks... by lenders... by homebuyers... by speculators... and by leaders in our nation's capital who failed to act amidst a deepening crisis."

President Obama.

Housing Price Changes (annually and quarterly) in the USA

Source: Federal Housing Finance Agency.

Hoven's Index for October 14, 2009

Decline in housing prices from their peak in 2007 through June 2009 (latest data available): 11%.

Change in house prices from June 2008 to June 2009 in the US: down 6.13%

In North Dakota: up 2.82%.

In Indiana: down 1.66%.

In California: down 15.38%.

In Nevada: down 28.08%.

Change in housing prices in last eight years (June 2001 to June 2009): up 33%.

Source: Federal Housing Finance Agency.

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