Wondering what your house is worth these days? Plug in your purchase price to the calculator at the Office of Federal Housing Enterprise Oversight and find out. The OFHEO tracks housing values by state, and even by metro area. So, for example, if you live in Wenatchee, Washington, click on the Housing Price Calculator on the OFHEO home page, then click MSA (metropolitan statistical area). That gives you a list of all the metro areas in the USA; select Wenatchee and complete the rest of the form.
I mention Wentatchee because it’s the hottest residential real estate market in America over the last year, a 23% increase. Other markets in the Pacific Northwest lead the list too (Salem comes in at 8, Tacoma, 19; Spokane 20, Eugene, 21). Cities in California and Florida trail—but they have been going nuts for a decade. Cooling off is to be expected.