Utah Has Nation's Worst Home Appreciation

Utah Has Nation's Worst Home Appreciation

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(Denver-AP) -- Colorado's housing market ranks among the worst in the country when it comes to appreciation values. That's according to a government report.

The first-quarter survey from the Office of Federal Housing Enterprise Oversight shows Colorado homes appreciated an average of two-point-85 percent.

That compares with a nationwide weighted average increase of seven-point-seven percent.

The report covers the 12 months that ended March 31st.

Only Utah, Texas and Indiana showed lower housing appreciation than Colorado. Hawaii was number one, rising more than 15 percent. Utah was the worst at one-point-95 percent.

The report tracks only conventional mortgages, which cannot exceed 333-thousand-700 dollars under Fannie Mae loan guidelines.

(Copyright 2004 by The Associated Press. All Rights Reserved.)

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