Prices Increase in Fastest Rate in 25 Years

Prices in the 3rd quarter rose an average of 13 percent compared to 3Q/2003, according to the Washington DC based Office of Federal Housing Enterprise Oversight. It was the biggest increase since 1979. The slowest growth state was Texas with 3.8% growth.

Florida ranked 7th in price growth, with a 19.6% In the 3Q alone, prices rose 6.3%

Economists are predicting a slight rise in interest rates, to 6.01% in 2005, which may mean that the fastest rate of appreciation may be behind us, but the appreciation rate will still be above average.