National home values have increased 8.7% since last April to a median value of $215,600, according to Zillow.
As Bloomberg reports, new data from the Federal Housing Finance Agency confirms the widespread gains seen by Zillow as home prices rose in all 50 states and the District of Columbia in the first quarter of 2018 compared to a year earlier.
The average home sales price in the Capital Region increased 0.6% in 2017 to $216,802, according to the Greater Baton Rouge Association of Realtors.
The FHFA report shows first-quarter home prices rose 6.9% from a year earlier. Annual appreciation surpassed 10% in Nevada (13.7%), Washington (13.1%), Idaho (11.1%), Colorado (10.6 %)
Due to the rise in home prices, refinancing actions where the homeowner took additional cash out, rose to 61% in the first quarter—the highest rate seen since the third quarter of 2008, according to FHFA data.
The pace of appreciation seen by Zillow is the fastest since June 2006, when home values were rising 9% annually. In 21 of the 35 largest housing markets, home values have surpassed levels reached during the height of the housing boom over a decade ago.
