The NRV and the MSA – What’s It All Mean???

The Office of Federal Housing Enterprise Oversight – long title – released it’s quarterly HPI report today on the Metropolitan Statistical Area (MSA), or the average house price changes in repeat sales and/or refinancings on the same single-family properties … whew.  Anyway, it’s all based on Fannie Mae and Freddie Mac data, and they say more than 15 million transactions over a period of 27 years.  So how does the NRV stack up?

Very well!  Out of a total of 282 areas tracked, the Blacksburg/Christiansburg/Radford area ranked in the top 23%, or 65th.  Over the last 12-months, housing prices rose 8.71% and more than 47.51% over the last five years!  Proving once again, sound, calculated real estate decisions are a sound investment in the New River Valley.

The full report is here:
Download 4q06hpi.pdf

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