Tom Lindmark

OFHEO: Home Prices Increased in 30 Out of 50 States Over Past Year

OFHEO's numbers have their uses but one of them isn't tracking short term swings in house prices. They only measure loans made and refinanced by Fannie and Freddie and thus miss a considerable piece of the market. This is especially true for transactions which occurred in the past few years. Many of those real estate transactions were financed with subprime and Alt-A loans which don't show up on OFHEO's radar screen.