Chart 1. The number of home price booms has more than doubled in the past two years to a record 55 markets.
This chart displays the number of all home price booms and busts by year from 1978 to 2004.
  Booms Busts Count of < 0% markets
1978 4 0 0
1979 9 0 0
1980 1 0 0
1981 0 0 0
1982 0 0 0
1983 0 0 0
1984 0 -1 -1
1985 5 -1 -2
1986 13 -3 -4
1987 16 -4 -7
1988 24 -6 -9
1989 14 -8 -9
1990 15 -7 -9
1991 5 -3 -8
1992 1 -1 -6
1993 0 -2 -5
1994 3 -6 -9
1995 4 -4 -9
1996 3 -2 -9
1997 0 -2 -7
1998 0 0 -4
1999 1 -1 -1
2000 9 0 -1
2001 14 0 -1
2002 22 0 0
2003 32 0 0
2004 55 0 0
Booms: Real price gains of 30% of more in 3 years
Busts: Nominal price decline of at least 15% in 5 years
Source: FDIC (Office of Federal Housing Enterprise Oversight House Price Index, nominal and real, using Bureau of Labor Statistics Consumer Price Index less shelter inflation index).