West and Northeast regions maintain growth from September
National quarter-over-quarter (QoQ) home price growth grew 0.1 percent to 0.9 percent, and national year-over-year growth (YoY) grew 0.4 percent to 7.1 percent for October. 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.
The West maintained 1.1 percent QoQ growth for October.
Honolulu grew 0.89 percent to 1.69 percent QoQ growth, and was among the five highest performing metros nationwide despite being among the lowest performing metros nationwide for most of the year. San Jose, California was the highest performing metro nationwide, and maintained 2.49 percent QoQ growth.
Las Vegas and San Francisco were among the five highest performing metros nationwide. Las Vegas grew 0.23 percent to 2.1 percent QoQ growth, and San Francisco grew 0.24 percent to 1.69 percent QoQ growth.
Seattle and Phoenix remained among the 15 highest performing metros nationwide, despite experiencing negative growth. Seattle fell 0.26 percent to 1.18 percent QoQ growth, and Phoenix fell 0.16 percent to 1.18 percent QoQ growth.
West metros among the 15 lowest performing metros nationwide:
- Tucson, Ariz. fell 0.07 percent to 0.67 percent QoQ growth
- San Diego, Calif. fell 0.19 percent to 0.66 percent QoQ growth
- Bakersfield, Calif. fell 0.15 percent to 0.59 percent QoQ growth
- Oxnard, Calif. fell 0.31 percent to 0.4 percent QoQ growth
The Northeast maintained 1 percent QoQ growth for October.
Providence, Rhode Island and Rochester, New York were among the 15 highest performing metros nationwide. Providence, Rhode Island grew 0.29 percent to 1.42 percent QoQ growth, and Rochester, New York grew 0.24 percent to 1.17 percent QoQ growth.
Pittsburgh remained among the 15 lowest performing metros nationwide despite growing 0.29 percent to 0.42 percent QoQ growth. Hartford, Connecticut fell 0.27 percent to zero percent QoQ growth, and was the lowest performing metro nationwide.
The South grew 0.2 percent to 0.7 percent QoQ growth for October.
South metros among the 15 highest performing metros nationwide:
- San Antonio, Texas grew 0.34 percent to 1.3 percent QoQ growth
- Memphis, Tenn. grew 0.09 percent to 1.16 percent QoQ growth
- Orlando, Fla. fell 0.21 percent to 1.25 percent QoQ growth
South metros among the 15 lowest performing metros nationwide, despite experiencing positive growth:
- Virginia Beach, Va. grew 0.05 percent to 0.57 percent QoQ growth
- Houston, Texas grew 0.24 percent to 0.43 percent QoQ growth
- Washington, D.C. grew 0.14 percent to 0.42 percent QoQ growth
- New Orleans, La. grew 0.7 percent to 0.36 percent QoQ growth
- Richmond, Va. fell 0.84 percent to 0.6 percent QoQ growth
- Baltimore, Md. fell 0.49 percent to 0.23 percent QoQ growth
The Midwest grew 0.1 percent to 0.9 percent QoQ growth for October.
Midwest metros among the 15 highest performing metros nationwide:
- Detroit, Mich. grew 0.12 percent to 2.1 percent QoQ growth
- Milwaukee, Wis. grew 0.04 percent to 1.36 percent QoQ growth
- Cincinnati, Ohio grew 0.09 percent to 1.19 percent QoQ growth
- Cleveland, Ohio grew 0.16 percent to 1.16 percent QoQ growth
Midwest metros among the 15 lowest performing metros nationwide:
- Chicago, Ill. grew 0.05 percent to 0.63 percent QoQ growth
- Dayton, Ohio grew 0.21 percent to 0.54 percent QoQ growth
- St. Louis, Mo. grew 0.37 percent to 0.46 percent QoQ growth
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 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.