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Home Price Growth Shows Signs of Further Deceleration in December

By December 27, 2018 No Comments
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Las Vegas maintains status as nation’s top-performing metro after unseating San Jose in November

 

National quarter-over-quarter (QoQ) home price growth remained unchanged from November, at 0.9 percent for December. National year-over-year growth (YoY) also remained unchanged from November, at 7.3 percent for December. 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 maintained 1.1 percent QoQ growth for December. Its YoY growth has consistently been 8.4 percent since October, which may indicate a market slowdown.

West metros among the 15 highest-performing metros nationwide:

  • Las Vegas, Nev. was the highest-performing metro nationwide, growing 0.2 percent to 2.25 percent QoQ growth
  • San Jose, Calif. was among the five highest-performing metros nationwide, and maintained 1.58 percent QoQ growth. Its YoY growth fell 0.42 percent to 14.97 percent.
  • Honolulu, Hawaii fell 0.08 percent to 1.24 percent QoQ growth
  • San Francisco, Calif. fell 0.13 percent to 1.22 percent QoQ growth
  • Oxnard, Calif. grew 0.28 percent to 1.19 percent QoQ growth
  • Phoenix, Ariz. grew 0.07 percent to 1.17 percent QoQ growth

West metros among the 15 lowest-performing metros nationwide:

  • Seattle, Wash. fell 0.16 percent to 0.67 percent QoQ growth
  • Portland, Ore. grew 0.01 percent to 0.67 percent QoQ growth
  • San Diego, Calif. grew 0.04 percent to 0.46 percent QoQ growth

Northeast Region

The Northeast also showed signs of a market slowdown, maintaining 1 percent QoQ growth for December, and growing a marginal 0.1 percent to 8.3 percent YoY growth.

Northeast metros that showed substantial gains from November:

  • Providence, R.I. was among the five highest-performing metros nationwide, growing 0.44 percent to 1.49 percent QoQ growth
  • Philadelphia, Pa. grew 0.2 percent to 1.26 percent QoQ growth
  • New York, N.Y. grew 0.17 percent to 1.19 percent QoQ growth

Pittsburgh was among the five lowest-performing metros nationwide, falling 0.43 percent to 0.39 percent QoQ growth. Hartford, Connecticut was the lowest-performing metro nationwide, despite growing 0.08 percent to 0.21 percent QoQ growth.

South Region

The South was the only region to experience growth, and grew 0.1 percent to 0.8 percent QoQ growth for December.

Three south metros were among the 15 highest performing metros nationwide:

  • New Orleans, La. was among the five highest-performing metros nationwide, growing 0.34 percent to 1.41 percent QoQ growth
  • Jacksonville, Fla. fell 0.03 percent to 1.29 percent QoQ growth
  • San Antonio, Texas fell 0.31 percent to 1.28 percent QoQ growth

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

  • Birmingham, Ala. grew 0.12 percent to 0.69 percent QoQ growth
  • Virginia Beach, Va. grew 0.01 percent to 0.63 percent QoQ growth
  • Miami, Fla. grew 0.1 percent to 0.61 percent QoQ growth
  • Richmond, Va. grew 0.37 percent to 0.49 percent QoQ growth
  • Washington, D.C. grew 0.03 percent to 0.41 percent QoQ growth
  • Memphis, Tenn. was among the five lowest-performing metros nationwide, falling 0.52 percent to 0.33 percent QoQ growth
  • Nashville, Tenn. was among the five lowest-performing metros nationwide, fell 0.14 percent to 0.23 percent QoQ growth

Midwest Region

The Midwest fell 0.1 percent to 0.9 percent QoQ growth for December.

Midwest metros among the 15 highest-performing metros nationwide:

  • Detroit, Mich. was among the five highest-performing metros nationwide, despite falling 0.27 percent to 1.44 percent QoQ growth
  • Milwaukee, Wis. fell 0.21 percent to 1.19 percent QoQ growth
  • Columbus, Ohio fell 0.01 percent to 1.15 percent QoQ growth

Midwest metros among the 15 lowest-performing metros nationwide:

  • Dayton, Ohio grew 0.06 percent to 0.69 percent QoQ growth
  • Chicago, Ill. maintained 0.55 percent QoQ growth
  • St. Louis, Mo. was among the five lowest-performing metros nationwide, falling 0.05 percent to 0.4 percent QoQ growth

 

Clear Capital December 2018 HDI Market Report

 

About 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 Clear Capital’s HDI Market Report is the capability to provide more timely and granular reporting than nearly any other home price index provider.

Clear Capital’s 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 multi-month lag time that may be 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.

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