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Home Price Growth Continues Deceleration Nationwide in September

By September 25, 2018 No Comments
Clear Capital September 2018 HDI Market Report Home Price Growth

Eight West metros among 15 highest performing metros nationwide

National quarter-over-quarter (QoQ) home price growth fell 0.1 percent to 0.8 percent, and national year-over-year growth (YoY) fell 0.1 percent to 6.7 percent for September. All data reported is based upon Clear Capital’s patent-pending QoQ measurement, which uses the newest data to create timely indices in rolling quarter intervals, significantly reducing multi-month lag time that may be experienced with other indices.

West Region

The West fell 0.1 percent to 1.2 percent QoQ growth for September.

San Francisco grew 0.25 percent to 1.45 percent QoQ growth, and was the only West metro among the 15 highest performing metros nationwide to experience positive growth. San Jose, California was the highest performing metro nationwide, despite falling 0.04 percent to 2.5 percent QoQ growth.

West metros among the 15 highest performing metros nationwide:

  • Las Vegas, Nev. fell 0.1 percent to 1.87 percent QoQ growth
  • Seattle, Wash. fell 0.58 percent to 1.45 percent QoQ growth
  • Fresno, Calif. fell 0.52 percent to 1.42 percent QoQ growth
  • Phoenix, Ariz. fell 0.07 percent to 1.34 percent QoQ growth
  • Los Angeles, Calif. fell 0.03 percent to 1.23 percent QoQ growth
  • Sacramento, Calif. fell 0.07 percent to 1.16 percent QoQ growth

West metros among the 15 lowest performing metros nationwide:

  • Tucson, Ariz. fell 0.06 percent to 0.74 percent QoQ growth
  • Oxnard, Calif. fell 0.07 percent to 0.71 percent QoQ growth
  • Honolulu, Hawaii grew 0.96 percent to 0.71 percent QoQ growth

Northeast Region

The Northeast fell 0.1 percent to 1 percent QoQ growth for September.

Providence, Rhode Island made it back among the 15 highest performing metros nationwide, growing 0.1 percent to 1.13 percent QoQ growth. All other Northeast metros experienced negative growth for September.

  • New York, N.Y. fell 0.18 percent to 0.94 percent QoQ growth
  • Philadelphia, Pa. fell 0.18 percent to 0.89 percent QoQ growth

Northeast metros among the 15 lowest performing metros nationwide:

  • Hartford, Conn. fell 0.09 percent to 0.27 percent QoQ growth
  • Pittsburgh, Pa. fell 0.12 percent to 0.13 percent QoQ growth

South Region

The South fell 0.1 percent to 0.5 percent QoQ growth for September.

South metros among the 15 highest performing metros nationwide:

  • Orlando, Fla. grew 0.23 percent to 1.46 percent QoQ growth
  • Nashville, Tenn. fell 0.15 percent to 1.37 percent QoQ growth
  • Atlanta, Ga. fell 0.02 percent to 1.24 percent QoQ growth

Memphis, Tennessee — typically a strong performer — fell out of the 15 highest performing metros nationwide, dropping 0.37 percent to 1.07 percent QoQ growth. Virginia Beach, Virginia grew 0.05 percent to 0.52 percent QoQ growth, and was the only metro among the 15 lowest performing metros nationwide to experience positive growth.

South metros among the 15 lowest performing metros nationwide:

  • Richmond, Va. fell 0.21 percent to 0.71 percent QoQ growth
  • Birmingham, Ala. fell 0.25 percent to 0.65 percent QoQ growth
  • Baltimore, Md. fell 0.08 percent to 0.45 percent QoQ growth
  • Washington, DC fell 0.23 percent to 0.28 percent QoQ growth
  • Houston, Texas fell 0.31 percent to 0.18 percent QoQ growth
  • New Orleans, La. fell 0.32 percent to negative 0.34 percent QoQ growth, and was the lowest performing metro nationwide

Midwest Region

The Midwest fell 0.1 percent to 0.8 percent QoQ growth for September.

Midwest metros among the 15 highest performing metros nationwide:

  • Detroit, Mich. grew 0.42 percent to 1.98 percent QoQ growth
  • Columbus, Ohio fell 0.09 percent to 1.38 percent QoQ growth
  • Milwaukee, Wis. grew 0.33 percent to 1.32 percent QoQ growth

Midwest metros among the 15 lowest performing metros nationwide:

  • Chicago, Ill. fell 0.3 percent to 0.58 percent QoQ growth
  • Dayton, Ohio fell 0.59 percent to 0.33 percent QoQ growth
  • St. Louis, Mo. fell 0.01 percent to 0.09 percent QoQ growth

Clear Capital September 2018 HDI Market Report Home Price GrowthAbout the Clear Capital® Home Data Index (HDI) Market Report
The Clear Capital HDI Market Report provides insights into market trends and other leading indices for the real estate market at the national and local levels. A critical difference in the value of the HDI Market Report is the capability of Clear Capital to provide more timely and granular reporting than nearly any other home price index provider.

Clear Capital® HDI Methodology

  • Generates the timeliest indices in patent pending rolling quarter intervals that compare the most recent four months to the previous three months. The rolling quarters have no fixed start date and can be used to generate indices as data flows in, significantly reducing the multi-month lag time experienced with other indices.
  • Includes both fair market and institutional (real estate owned) transactions, giving equal weight to all market transactions and identifying price tiers at a market specific level. By giving equal weight to all transactions, the HDI is truly representative of each unique market.
  • Results from an address-level cascade create an index with the most granular, statistically significant market area available.
  • Provides weighted repeat sales and price-per-square-foot index models that use multiple sale types, including single-family homes, multi-family homes, and condominiums.

 

The information contained in this report is based on sources that are deemed to be reliable; however no representation or warranty is made as to the accuracy, completeness, or fitness for any particular purpose of any information contained herein. This report is not intended as investment advice, and should not be viewed as any guarantee of value, condition, or other attribute.