As the U.S. housing market nose-dived over the past decade, home prices in some cities actually improved, according to a report released this month by mortgage technology company FNC Inc.
The study, conducted by FNC senior economist Yanling Mayer using the company's Residential Price Index, identifies the top 10 U.S. cities with the greatest annual appreciation in home prices since 2003:
- Baltimore, 7%;
- Seattle, 5.7%;
- Washington, D.C., 4.5%;
- Los Angeles, 3.8%;
- Portland, Ore., 3.8%;
- San Antonio, 3.2%;
- New York, 3.1%;
- Nashville, Tenn., 2.8%;
- St. Louis, 2.4%; and
- Columbus, Ohio, 1.3%.
FNC's study shows that the median U.S. price appreciation for 60 metropolitan statistical areas is up 0.6% annually over the past seven years, which positions the top-10 cities all above the national average.
SOURCE: FNC Inc.