Little Good News for Texas...

The Federal Housing Finance Agency release a report this week titled, "Record Home Price Declines in Fourth Quarter; Isolated Pockets of Strength." The good news is that Texas is generally included in the "Isolated Pockets of Strength" portion of this title.

Of 27 Texas cities, only five had price depreciation between the fourth quarter 2007 and fourth quarter 2008. During this same time period, 22 markets had price appreciation with an overall average price increase for the state of 2.1%. Dallas-Plano-Irving was up 1.9% and Fort Worth-Arlington was up 1.2%.

To view the entire 85-page report, please visit http://www.fhfa.gov/webfiles/1280/4q08hpi.pdf.