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Home Price Growth Remains Steady Across Regions in November

By November 28, 2018 No Comments
Clear Capital November 2018 HDI Market Report

Las Vegas unseats San Jose as nation’s top performing metro

National quarter-over-quarter (QoQ) home price growth remained unchanged from October, at 0.9 percent for November. National year-over-year growth (YoY) grew 0.2 percent to 7.3 percent for November. 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 percent QoQ growth for November.

San Jose, California was unseated from its No. 1 spot, falling 0.91 percent to 1.58 percent QoQ growth. Las Vegas was the highest performing metro nationwide, despite falling 0.05 percent to 2.05 percent QoQ growth. Las Vegas’s YoY growth was 15.24 percent. West metros among the 15 highest performing metros nationwide include:

  • San Francisco, Calif. fell 0.34 percent to 1.35 percent QoQ growth
  • Honolulu, Hawaii fell 0.29 percent to 1.32 percent QoQ growth
  • Fresno, Calif. fell 0.02 percent to 1.11 percent QoQ growth

West metros among the 15 lowest performing metros nationwide include:

  • Los Angeles, Calif. fell 0.3 percent to 0.67 percent QoQ growth
  • Portland, Ore. fell 0.09 percent to 0.66 percent QoQ growth
  • San Diego, Calif. fell 0.24 percent to 0.42 percent QoQ growth

Northeast Region

The Northeast maintained 1 percent QoQ growth for November.

No major Northeast metros were among the 15 highest performing metros nationwide. Hartford, Connecticut was the only Northeast metro among the 15 lowest performing metros nationwide, growing 0.14 percent to 0.13 percent QoQ growth.

South Region

The South grew 0.1 percent to 0.7 percent QoQ growth for November.

Five South metros were among the 15 highest performing metros nationwide. San Antonio took the top spot for the South, growing 0.28 percent to 1.59 percent QoQ growth. The other four metros include:

  • Houston, Texas grew 0.97 percent to 1.39 percent QoQ growth
  • Jacksonville, Fla. grew 0.39 percent to 1.32 percent QoQ growth
  • Dallas, Texas grew 0.13 percent to 1.14 percent QoQ growth
  • Orlando, Fla. fell 0.12 percent to 1.14 percent QoQ growth

Eight South metros were among the 15 lowest performing metros nationwide:

  • Virginia Beach, Va. grew 0.06 percent to 0.63 percent QoQ growth
  • Baltimore, Md. grew 0.38 percent to 0.61 percent QoQ growth
  • Raleigh, N.C. fell 0.01 percent to 0.72 percent QoQ growth
  • Birmingham, Ala. fell 0.17 percent to 0.57 percent QoQ growth
  • Miami, Fla. fell 0.22 percent to 0.51 percent QoQ growth
  • Washington, D.C. fell 0.04 percent to 0.37 percent QoQ growth
  • Nashville, Tenn. fell 0.69 percent to 0.37 percent QoQ growth
  • Richmond, Va. was the lowest performing metro nationwide, falling 0.48 percent to 0.12 percent QoQ growth

Midwest Region

The Midwest grew 0.1 percent to 1 percent QoQ growth for November.

Detroit was the second-highest performing metro nationwide, despite falling 0.39 percent to 1.71 percent QoQ growth. Midwest metros among the 15 highest performing metros nationwide include:

  • Milwaukee, Wis. grew 0.04 percent to 1.4 percent QoQ growth
  • Cleveland, Ohio grew 0.02 percent to 1.18 percent QoQ growth
  • Columbus, Ohio grew 0.06 percent to 1.15 percent QoQ growth

Cincinnati remained among the 15 highest performing metros, despite falling 0.09 to 1.11 percent QoQ growth. Midwest metros among the 15 lowest performing metros nationwide include:

  • Dayton, Ohio grew 0.1 percent to 0.64 percent QoQ growth
  • Chicago, Ill. fell 0.08 percent to 0.55 percent QoQ growth
  • St. Louis, Mo. fell 0.57 percent to 0.44 percent QoQ growth

Clear Capital November 2018 HDI Market ReportAbout 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.