Tuesday, May 4, 2010

Home Price Index - what should your house be worth?

The HPI serves as a timely, accurate indicator of house price trends at various geographic levels. It also offers a calculator that does not project the actual value of any particular house, but instead what a given house purchased at a point in time would be worth today if it appreciated at the average appreciation rate of all homes in the area.

Very fun tool provided by the Federal Government if you click here

Here is some information about Long Island:
Nassau-Suffolk, NY (MSAD)
Rank 198
1 Quarter -1.36
1 Year -5.80
5 Years 1.30

So while prices are down this year, they are still up over 5 years.