Welcome!

News Feed Item

Homes.com Local Market Index and Rebound Reports Show Continuing Recovery for Eighth Consecutive Month

Homes.com, a leading online real estate destination and a division of Dominion Enterprises, has released its November Local Market Index, a price performance summary of repeat sales of U.S. properties. Utilizing home pricing data, the Index shows year-over-year gains for single-family properties in all 300 top U.S. markets.

To provide insight into local sector housing trends across the country, Homes.com publishes the Local Market Index for the Top 100 markets and the companion Midsize Markets Report for defined areas ranked from 101-300. Month-over-month increases in index values were seen in 235 of the top 300 markets, down from 253 the previous month. This downtrend is likely due to both seasonal trends and the state of recovery for these markets.

As a complement to the Local Market Index, Homes.com publishes an exclusive Rebound Report, highlighting how the housing recovery process is unfolding across the country. It measures each market’s peak-to-trough decline in index value, which had been attributed to the bursting of the U.S. housing bubble.

While the number of top 100 markets achieving a full recovery increased by two from the previous month to 28, there is also noticeable improvement in the number of midsize markets seeing full recovery. This month, 59 of the top 200 midsize markets have fully recovered their loss in home prices due to the housing bubble burst. These advancements bring the total markets that have seen a full recovery to 87 (29%), up one from the previous month’s 86.

All of the 200 midsize local markets measured continued to show gains year-over-year for the single-family index. On a monthly basis, Rocky Mount, NC saw the largest gain, with a 3.05 index point jump. For the sixth consecutive month, Anchorage, Alaska and Hilo, Hawaii continue to be the top two performing markets on a year-over-year basis. Anchorage takes the top spot, increasing by nearly 20 percent, followed by Hilo with a more than 15 percent increase. The West continues to dominate the midsize markets, with all 10 of the top 10 markets increasing on an annual basis and with year-over-year index point gains. On a monthly basis, the top 10 midsize markets are largely split between the southern and western regions.

“This year will continue to bring good news, with numerous markets providing opportunities for consumers to take advantage of improvements as they consider buying and selling. Markets in the West and Heartland areas continue to lead the pack, but encouraging signs in the Southeast and Northeast prove the market is continuing the steady climb toward recovery,” said Brock MacLean, executive vice president of Homes.com. "With the gains we continue to see in local markets year-to-date, we should close out 2013 with year-over-year price gains nearing 2005 levels."

The latest Homes.com Local Market Index reports the following:

  • Year-over-year increases in all top 300 markets.
  • Monthly increases in 85 of the top 100 markets and in 150 of the 200 midsized markets.
  • Honolulu, Hawaii remains the top gaining market on a year-over-year basis, with a 28.23 index point or 12.62 percent increase.
  • California markets [Los Angeles-Long Beach-Santa Ana, Calif.; San Diego-Carlsbad-San Marcos, Calif., San Francisco-Oakland-Fremont, Calif.; Bakersfield-Delano, Calif.] are the remaining 4 in the top 5. Year-over-year, they increased 28.22, 26.68, 25.58 and 21.83 index points, respectively.
  • Of the top 10 yearly gaining markets in the top 100 markets, eight are in the West.

Highlights from the Homes.com Rebound Report for the top 300 markets show:

  • 87 have made a 100 percent rebound, indicating a complete recovery in these markets. This is an increase from 84 markets in the previous reporting period.
  • Midsize markets lead the pack in areas that are recovering. Out of the 87 markets achieving more than 100 percent rebound this month, 59 are midsize.
  • The three newest markets to achieve a full rebound are Greensboro-High Point, NC, Ogden-Clearfield, UT, and Peoria, IL.
  • Of the remaining non-recovered markets, 161 (54%) show more than a 50 percent rebound, up from 158 (52%) markets in the previous month.
  • 92 percent (80) of the 87 fully rebounded markets reported month-over-month gains. The average month-over-month increase for all recovered markets was 1.67 percent, compared to a 2 percent gain in non-recovered markets. This illustrates the leveling of home prices in recovered markets.
  • 22 markets were not affected by the boom-bust scenario of the U.S. housing bubble. These markets did not experience the same peak-to-trough decline displayed by the remaining 278 markets. All of these markets are midsize markets, with half from the state of Texas and 73 percent from energy-producing areas. They include: Brownsville-Harlingen, Texas; Killeen-Temple-Fort Hood, Texas; Shreveport-Bossier City, La.; Anchorage, Alaska; Fayetteville, N.C.; Charleston, W.Va.; Lubbock, Texas; Cedar Rapids, Iowa; Amarillo, Texas; Waco, Texas; College Station-Bryan, Texas; Longview, Texas; Tyler, Texas; Fargo, N.D.-Minn.; Jacksonville, N.C.; Monroe, La.; Waterloo-Cedar Falls, Iowa; Abilene, Texas; Iowa City, Iowa; Wichita Falls, Texas; Sioux City, Iowa-Neb.-S.D.; and Midland, Texas.

Resources:

The Homes.com Local Market Index (Top 100) for November 2013 can be downloaded here.

The Homes.com Local Market Index Midsize Markets Report can be downloaded here.

The Homes.com Rebound Report for November 2013 can be downloaded here.

The rebound percentages for the top 300 markets in November 2013 values can be viewed here.

Various tables and graphs included in the report can be downloaded here.

To receive a comprehensive data file including index values in every zip code within a local market, contact [email protected].

Methodology:

The Local Market Index is calculated from sales data on the same homes over time, allowing a side-by-side comparison of the same property. This more accurately tracks the monthly growth and decline in home prices over a longer period of time. Each sales pair observed is grouped with all other sales pairs found within the area to create a highly localized, neighborhood-level index.

The Homes.com Rebound Report tracks how far each market has recovered from its peak-to-trough decline in index value attributable to the Great Recession, a recently marked global economic decline that correlated with the bursting of the U.S. housing bubble. This report provides a useful way to understand how the housing recovery process is unfolding across the country.

About Homes.com

As one of the nation’s top online real estate destinations, Homes.com inspires consumers to dream big. From affordable houses to luxurious estates, condos, rentals and more, Homes.com features close to three million property listings and a user-friendly format, making finding your next home or a licensed real estate agent easily accessible. Visitors to the Homes.com blog will find a collection of rich content and posts on DIY projects, painting, gardening and more, providing the ultimate resource for everything home related. From purchasing a first home, to upgrading, downsizing and everything in between, Homes.com is an inspiring and engaging partner in every phase of the home buying process.

Homes.com is a division of Dominion Enterprises, a leading marketing services and publishing company headquartered in Norfolk, Virginia. For more information, visit www.dominionenterprises.com.

For more information, visit http://www.homes.com or blog.homes.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Ovum, a leading technology analyst firm, has published an in-depth report, Ovum Decision Matrix: Selecting a DevOps Release Management Solution, 2016–17. The report focuses on the automation aspects of DevOps, Release Management and compares solutions from the leading vendors.
Continuous testing helps bridge the gap between developing quickly and maintaining high quality products. But to implement continuous testing, CTOs must take a strategic approach to building a testing infrastructure and toolset that empowers their team to move fast. Download our guide to laying the groundwork for a scalable continuous testing strategy.
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
StackIQ has announced the release of Stacki 3.2. Stacki is an easy-to-use Linux server provisioning tool. Stacki 3.2 delivers new capabilities that simplify the automation and integration of site-specific requirements. StackIQ is the commercial entity behind this open source bare metal provisioning tool. Since the release of Stacki in June of 2015, the Stacki core team has been focused on making the Community Edition meet the needs of members of the community, adding features and value, while ...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...