Graham and Doddsville -- Value Investing In The New Era Message Board

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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: porcupine --''''> who wrote (1434)	3/8/1999 7:26:00 PM
From: porcupine --''''>	Read Replies (1) of 1722

Home Prices Up 3.3 Percent At End Of '98 WASHINGTON (Reuters) - The price of U.S. homes rose at an annualized rate of 3.3 percent in the last three months of 1998, the slowest rate of the year, but were expected to remain strong in 1999, Freddie Mac (NYSE:FRE - news) said Monday. ''Fourth quarter changes in home values were smaller than in the past three quarters, reflecting the seasonal slowing of the market,'' Freddie Mac economist Amy Crew Cutts said in a statement. ''Home price appreciation is expected to continue to be higher than inflation overall, between 3 percent to 4.5 percent for the year.'' All regions in the country experienced a rise in annualized average home values, led by the Pacific, which was up 5.7 percent. Home prices in the East South Central states were next, with a 3.9 percent rise. New England and the South Atlantic region tied for third with a 3.5 percent rise while home values in the Mid Atlantic states rose 3.3 percent. The house price index in the West North Central states rose 3.2 percent, compared with a 3.0 percent gain in the West South Central region. The Mountain region had a 2.7 percent growth rate while the East North Central states brought up the rear with a 1.5 percent growth rate. Freddie Mac is a corporation chartered by Congress that buys mortgages from lenders and packages them into securities for investors.

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