Wenatchee real estate for dummiesConfirming my bullish attitude regarding Wenatchee real estate has not been wishful thinking... for the fourth quarter in a row (in spite of dreary housing news nationwide), Wenatchee was placed in the #1 spot on the Office of Federal Housing Oversight Housing Price Index AGAIN.  This means for the entire calendar year of 2007, Wenatchee held the #1 spot in the entire nation!


With massive media reports of foreclosures and depreciating home prices across the country, Wenatchee stays on top of the list of appreciating home value markets at 13.67% for the year 2007.


Most of the markets on the bottom of the list (meaning most depreciating values) are in California and Florida.  There are a couple of Nevada and Michigan cities thrown in the mix as well.


Ever since the media jumped on the housing slump bankwagon, I get the same question over and over:  "How is the real estate market in Wenatchee?"   Our appreciation rates had been running at over 25% and I predicted we would cool off to between 10% - 15%.   My prediction was based on our own experience with continued business, the fact builders were making more homes available, AND also Wenatchee is very fortunate to have a robust and diverse economy. This combination of factors should keep the level of activity healthy, but also keep skyrocketing appreciation in check. 


As I've said before, I am glad to see appreciation slow down from an affordability point of view.  But, as I've been saying, I don't think Wenatchee has to worry about a downturn.


For the complete report published by OFHEO today, click here.  To find Wenatchee in the report, scroll down to page 30 (of 88).












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