Home Prices Grew 5.3 Percent In October | Clear Capital in the News
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Home Prices Grew 5.3 Percent In October | Clear Capital in the News

By November 2, 2021 No Comments
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Story by Navi Persaud for National Mortgage Professional

Clear Capital’s October 2021 Home Data Index reported that home price growth was at 5.3% on a quarter-over-quarter basis and close to 20% year-over-year.

The West region was again the leader, with prices increasing 24.3% on a YOY basis. The strongest metropolitan statistical area (MSA) in the West was again, Phoenix, where prices rose 57%, reported Brent Nyitray of the Daily Tearsheet. Clear Capital notes that COVID-related noise might be exaggerating the numbers there, but strong appreciation there was confirmed by a 31% increase in price-per-square-foot. Other strong Western MSAs include Las Vegas (up 26%) and Portland (up 21%).

The South was the next best performer, with prices rising 20.5% YOY, according to the report. Tampa was the leader here, with prices rising 31%. Raleigh (up 25%) and Orlando (up 25%) were other top performers in the region. The Northeast saw prices rise 16.7% with the top performer being Providence, where prices rose 19%. Prices also increase by 18% in Hartford.

Meanwhile, prices in the Midwest increased by 15.9%, with Columbus, where prices rose 17% being a top performer.

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