The continued price increases are a result of many factors including low mortgage interest rates and the apparent impact of speculative investing.

Appreciation rates in the third quarter were extremely strong, although some deceleration can be seen in a number of the faster-appreciating markets.

are the result of many factors, including low mortgage interest rates and the apparent impact of speculative investing.

Despite recent indications that a slowdown may be forthcoming, house price appreciation during 2005 continued to hover at hear-record levels.

Some deceleration can be seen in a number of the faster-appreciating markets. Price momentum in the Pacific and New England states, in particular, has pulled back.

The robust appreciation rates are striking both in terms of their magnitude and in their geographic scope. However, they are likely unsustainable given the underlying inflation rate, income growth and other factors,

What we saw is a modest slowdown in our latest quarterly data, but in the past we've seen slowdowns of this magnitude completely reverse in short order.

While deceleration continues in some areas, appreciation generally is still extremely strong. Mortgage rates climbed significantly during the second half of last year, but the effect of that increase on price appreciation so far appears to be limited.

There is no evidence here of prices topping out.

There is no evidence here of prices topping out, ... On the contrary, house price inflation continues to accelerate, as some areas that have experience relatively slow appreciation are picking up steam.