Homes.com, a leading online real estate destination and a division of Dominion Enterprises, has released its August Local Market Index, a price performance summary on repeat sales of properties in the U.S.
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 market housing trends across the country, Homes.com publishes the Local Market Index for the Top 100 markets and the companion Midsize Markets Report for markets ranked from 101-300. Month-over-month increases in index values were seen in 253 of the top 300 markets, down from 293 the previous month.
The downtrend in the number of markets that gain monthly is likely due to both seasonal trends and the state of recovery for these markets. Of the 47 markets that saw declines last month, 40 percent have fully recovered their decline in home prices from the housing bubble, while another 28 percent were found to be unaffected by the boom- bust scenario, illustrating that the weakness is a result of leveling off in home prices.
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