Home prices in metro Baton Rouge dropped by 0.3% during 2008, putting the city 100th on a list of how much house costs went up over the past year. According to the study, released today by the Federal Housing Finance Agency, local home prices fell by 0.68 from the third quarter to the fourth. But over the past five years, prices were up 33.6% in Baton Rouge. Decatur, Ala., was ranked as having the strongest housing market out of the 292 metro areas surveyed, with prices going up 6.6% for the year; Monroe was second with a 6.3% annual increase. Merced, Calif., where home prices plunged by nearly half in the past year, was ranked last.
Statewide, Louisiana ranked 13th for appreciation. Home costs dropped nearly 2% for the year. Six states saw prices go up over the year, with North Dakota leading the pack at 1.9%. Nevada reported a 28% drop in prices. Read the full report here.
