(RISMedia.com) – Home prices continue to chug along an upward track in the South, while lose steam in the West, according to Clear Capital’s recent market report. The median home price in the South has risen 5.7 percent since last year to date, with the average price per square foot at $106—more affordable than the national average of $135. Momentum in the West, meanwhile, has decelerated.
“As the Western region’s longstanding housing price growth dominance is beginning to fade, the South is the clear frontrunner as we begin to look forward to 2017 for top performing markets,” says Alex Villacorta, Ph.D., vice president of Research and Analytics at Clear Capital. “The region hosts several of the nation’s top-performing and most talked-about metropolitan markets like Dallas, Nashville, Miami, and others. Combined with its relatively low cost of living, the region appears to be gaining popularity among homebuyers, signaling a new opportunity for investors and traditional homebuyers alike as affordability remains an issue in many other markets, namely those in the West and Northeastern regions.”
