Deschutes County 2014 home price rise No. 10 in U.S.
A slowdown in the fourth quarter did not boot Deschutes County (the Bend-Redmond metro area) out of the nation’s top 10 for home price appreciation in 2014, federal statistics out Thursday said.
The Bend-Redmond area actually saw its home prices drop .01 percent in the last quarter of 2014, but the 11.25 percent rise for the year still put the county at No. 10 among U.S. metro areas with the highest rates of house price appreciation, according to the Federal Housing Finance Agency.
Over the past five years, the county saw home prices rise 28.51 percent, according to the quarterly report.
No. 1 on the list for 2014 was Merced, California, where home prices rose almost 15 percent, followed by the Naples-Immokalee-Marco Island, Florida metro area, where home prices rose nearly 14 percent. Vallejo-Fairfield, California, Reno, Nevada and Salinas California round out the top five.
Nationally, U.S. house prices rose 1.4 percent in the fourth quarter and 4.2 percent for the year. The FHFA calculates its House Price Index using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac.
