Everybody loves a winner. It's even better when we get paid for it.
One of the significant data reports that I follow is the quarterly home price index that's put out by FHFA.gov (Federal Housing Finance Administration). It has the housing price stats for all of the country back to 1991 and this agency puts out a wonderful report four times every year.
One of the data streams is how much average housing costs have increased or decreased on average in each state -- for the quarter, for the year, for the past five years, and all the way back to 1991. I know, I'm a data geek, but when the numbers are this good, it's a lot of fun.
Colorado once again this quarter (2016 3Q) showed in the top four of the fifty-one states (FHFA considers Washington, DC as a 51st state). The highest increase in the country over the past year has been Florida, followed by Washington state, Oregon and Colorado in that order. All of them increased between 10-11% over the past twelve months.
But there's more. Not only does Colorado consistently perform well in home appreciation on the yearly front, but in the long term. (This is so much fun.)
Since 1991, only one "state" has outperformed Colorado. Our home values on average have increased 296.37% over that 25 years, better than almost everyone. Only DC is better at 376.18%.
If you own a home in Colorado -- and especially if you've owned a home for a long time in Colorado -- you've done well on the investment side. Nicely planned and executed. You're a winner living amongst winners.
If you're thinking about a move sometime this year, call me. It's time we should talk.
Enjoy the day,
WK Real Estate