Home values stabilizing?

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There’s some good news on the horizon for residential real estate, but industry analysts don’t go so far as to say that appreciation values have stabilized completely.

While home prices fell in 17 states during the last year, most states continue to have stable home values, according to a November sales report from First American LoanPerformance.

Half a dozen others actually showed moderate price growth.

Home prices in five states – Wyoming, Utah, North Carolina, Alabama and Maine – grew between 5 percent and 10 percent between September 2006 and September 2007, and at more than 10 percent in Hawaii.

The Pikes Peak region’s home appreciation, on the other hand, has hovered near 1 percent for the past year as other parts of the country have suffered greater declines.

Thirty three states have seen at least some price appreciation during past year, as the trend has begun to reverse in some states where new foreclosures are bringing down average home values.