Quarterly Home Price Appreciation (annualized %)

- This is the change in home prices from 3 months earlier and then annualized (i.e. - multiplied four) to get an annual equivalent appreciation rate.

- Quarterly comparisons have more 'noise' in them, and will tend to bounce around a lot more than annual comparisons. However, quarterly data can also spot market reversals and changes quicker because it only looks back 3 months, instead of a year.