Posts Tagged ‘ Homes.com. ’

Report Shows Home Price Rebound in Nearly 25 Percent of Key Markets

Report Shows Home Price Rebound in Nearly 25 Percent of Key Markets

09/25/2013 BY: TORY BARRINGER

Property data through July shows home prices have rebounded completely in more than one-fifth of the nation’s top regional markets, according to a report from Homes.com.

According to the site’s latest report, 22 of the top 100 markets in the United States reported price increases of more than 100 percent from their respective troughs, up from 19 the month prior.

Marketing analyst Nicole Selvaggi explained that most of the markets that have come back completely “never suffered the significant numbers of foreclosures and short

sales that characterized the housing economy from 2007 to 2012,” and seven of the top 20 have benefited greatly from energy development from oil, gas, shale, or coal.

“As a result, these markets experienced a very different housing scenario, with lower peaks and higher troughs than other markets in the same region,” Selvaggi said.

At this point, 44 markets have seen a rebound of at least 50 percent, up from 41 in the last report.

In addition to the rebound, all 100 of the markets tracked in the Homes.com Local Market Index Report reported increases in home prices on both a monthly and yearly basis.

In terms of yearly growth, many of California’s most highly populated markets (including the Los Angeles, San Diego, and San Francisco areas) were among the top metros, with five additional smaller cities making the top list.

“Rising home prices in California’s coastal areas (Los Angeles, San Diego, and San Francisco), could be ‘pushing buyers inland to more affordable Riverside and San Bernardino counties,’” Selvaggi said, quoting an analysis from John Burns, CEO of John Burns Real Estate Consulting.

2013
09/26
CATEGORY
Home Prices
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Report: Five More Markets Reach Full Recovery in May

Report: Five More Markets Reach Full Recovery in May

BY: KRISTA FRANKS BROCK

Housing markets across the country continue to show improvement. Five more markets joined the list of fully recovered housing markets across the country, bringing the number to 19 as of the end of May, according to this month’s Homes.com Rebound Report released Wednesday.

Also, 39 markets are at least 50 percent recovered, meaning prices in these markets have regained at least half the value they lost during the recession.

“With five new markets reaching a full recovery over the last month and modest gains in some of the already fully recovered markets, the overall rebound of the U.S. housing market continues to move forward,” said Brock MacLean, EVP of Homes.com.

Several markets are more than fully recovered, and in fact, five markets have rebounded more than 200 percent since the recession.

Three of the top five markets demonstrating the strongest rebound are in Texas and the other two are in Oklahoma.

San Antonio, Texas; Houston, Texas; and Austin, Texas, top the list with rebounds of 227 percent, 218 percent, and 214 percent, respectively.

The market that has rebounded the least since the recession is Providence-New Bedvord-Fall River, Rhode Island-Massachusetts.

Other markets in the bottom 10 on Homes.com’s rebound are located in Florida, California, and Nevada.

Homes.com also released its Local Market Index Wednesday, revealing decrease in the number of markets demonstrating monthly increases in May. Prices increased in 83 of the top 100 markets in May, a slight disappointment following April’s impressive roster of price improvement included all 100 markets.

The New Orleans area posted the greatest monthly price appreciation in May—a gain of 6.09 index points.

Honolulu, Hawaii posted the greatest year-over-year increase in May, with prices posting a 22.85 index point increase.

The next three markets on the Homes.com list of year-over-year price appreciation are located in California—San Francisco with a 21.05 index point gain, Los Angeles with a 20.73 index point gain, and San Diego with an 18.21 index point gain.

2013
07/29
CATEGORY
Housing Market
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