Outside it may be cold and snowy with early storms, but housing prices are warning up in some of the most stunningly negative Midwestern and Northeastern markets, according to Clear Capital’s November market report.
Regionally the West still leads the appreciation parade, with quarterly increases of 1.2 percent and annualized price growth at 7.5 percent. But the Northeast and Midwest both gained ground compared to earlier in the year. The Northeast saw an increase in quarterly growth in November, a 0.1% uptick. This is an unexpected shift for a region that, just a few months prior, lagged behind the rest of the country in quarterly growth.
“As the year draws to a close, housing continues to recalibrate and the Midwest maintains its impressive trend. November’s data shows Detroit up 135% from the trough, with other regional MSAs demonstrating strong growth. In January we predicted that the Midwest would be a frontrunner this year for both homeowners and investors, and the region’s small percentage point gains, subsiding losses, and decreased volatility indicate steady improvement that is reflective of the greater recovery,” wrote Alex Villacorta, Ph.D., vice president of research and analytics at Clear Capital.
Other market showing new life in the second half of the year are:
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http://www.realestateeconomywatch.com/2015/12/northeast-midwest-markets-warm-up-as-year-winds-down/
Just back out of hospital in early March for home recovery. Therapist coming today.
Sales fell 5.9% from September and 28.4% from one year ago.
Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…
OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…
The prices of building materials decreased 0.2% in October
Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.
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