Clear Capital Report Shows New Top Markets

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This is good news for the housing market. When Detroit is bouncing back things have to be looking up. We need to wait and see what the government shutdown will do to the market. Please read the article below.

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San Francisco and Detroit led the housing market rebound according to the September Home Data Index released Tuesday by Clear Capital.

San Francisco led metro price performance in September, with 4.4 percent quarterly growth and 28.3 percent yearly growth. Detroit home prices saw 4.3 percent and 23.3 percent in quarterly and yearly growth, respectively.

National home price gains in September picked up to 10.9 percent year-over-year, which Clear Capital attributed to residual summer buying activity.

“While national and regional rates showed more of the same in September, an interesting dichotomy is unfolding beneath the surface,” said Dr. Alex Villacorta, vice president of research and analytics at Clear Capital.

“Strong performances in San Francisco and Detroit remind us that in a dynamic market, the only constant is change. For about a year and a half now, we’ve been focused on First-In, First-Out recoveries characterized by hard hit markets attracting investor interest, like Miami, Phoenix and Las Vegas. Now as the recovery matures, we see home buyers re-engaging in markets that haven’t fit the typical investor profile.”

San Francisco median home prices stood at $600,000 in September according to the report, while the median price in Detroit was $107,500. The national median home price was $215,000.

To read the complete article please use the link below.

New Top Markets

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