By John Stearns – Reporter- Wichita Business Journal
Kansas ranked seventh among the states for house price appreciation in the first quarter, according to the Federal Housing Finance Agency’s seasonally adjusted house price index released Wednesday, May 23rd.
The index showed a 3.16 percent improvement in prices in Kansas from a year ago. Prices were up 1.49 percent from the fourth quarter. Over five years, prices are down 3.91 percent.
The index is calculated using home sales price information from Fannie Mae and Freddie Mac mortgages, according to an FHFA news release.
The Wichita metropolitan area ranked 136th among 303 MSAs, with prices down 0.81 percent from a year ago and 1.44 percent from the fourth quarter. Prices over five years are up 3.27 percent.
The Kansas City MSA ranked 165th, down 1.71 percent from a year ago and 1.6 percent from the fourth quarter. Prices are down 9.75 percent over five years.
Lawrence ranked 35th, up 1.12 percent from the first quarter of 2011 and 0.25 percent from the fourth quarter. Prices are down by 4.06 over five years.
Topeka was 70th, up 0.4 percent from a year ago, but down 1.09 percent from the fourth quarter. The five-year change is down 1.65 percent.