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Homes.com’s Local Market Index Expands to Include Midsized Markets for Broader Housing Recovery Analysis

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Homes.com, a leading online real estate destination and a division of Dominion Enterprises, has released its latest Local Market Index, a price performance summary on repeat sales of properties in the U.S. Utilizing home pricing data for the period ending June 2013, the Index showed gains for single-family properties in 87 of the top 100 markets, a slight drop from 95 in the previous reporting period.

Starting with June 2013 housing data, the Homes.com Local Market Index has expanded to include midsized markets ranked from 101-300, providing a closer look at smaller markets nationwide. The Index showed increases in 250 of the top 300 markets, off from 259 the previous month. Year over year, all midsized markets increased.

“The addition of the Midsized Markets report provides an even broader look at the growing confidence in the housing market nationwide. Home prices continue to post the strongest gains in seven years, with 250 of the top 300 markets showing gains month over month,” says Brock MacLean, executive vice president of Homes.com. “Adding to that momentum, all of the top 300 markets recorded gains year over year, illustrating the recovery continues to progress around the country.”

As a complement to the Local Market Index, Homes.com released an exclusive Rebound Report, highlighting how the housing recovery process is unfolding across the country. Rebound data for June 2013 in the top 100 markets revealed that 19 markets across the U.S. are fully recovered – up from the previous month’s 16 markets. Additionally, 41 U.S. markets now show a rebound of 50 percent or more, up from 38 in last month’s report.

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