Honolulu leads U.S. in home price growth

Pacific Business News (Honolulu)
Honolulu had the highest rate of home price appreciation in the nation over the past year, according to new data. Home prices rose 14.79 percent in the Honolulu market, according to the September 2007 LoanPerformance Home Price Index released Monday by First American LoanPerformance.

Home prices fell in 17 states tracked by the index, with the Riverside-San Bernardino-Ontario market in California seeing the greatest drop, 13.59 percent. Although five states saw price appreciation of between 5 percent and 10 percent, Hawaii was the only market to experience double-digit growth. The company’s price index covers a total of 956 Core Based Statistical Areas and 659 counties in 50 states and the District of Columbia.