By Steve Cook
The latest Homes.com Local Market Index reports:
• Year-over-year increases in all top 300 markets.
• Monthly increases in 90 of the top 100 markets and in 161 of the 200 midsized markets.
• Honolulu, Hawaii remains the top gaining market on a year-over-year basis, with a 28.88 index point or 13.07 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 26.73, 25.98, 25.41 and 20.32 index points, respectively, but are only an average of 32 percent back to recovery.
• All of the top 10 monthly gaining markets from the top 100 are in the West, up from nine in the previous month and six in the month prior to that.
Highlights from the Homes.com Rebound Report for the top 300 markets show:
• 80 have made more than a 100 percent rebound, indicating a complete recovery in these markets. This is an increase from 77 markets in the previous reporting period.
• The three newest markets to achieve a full rebound are Davenport-Moline-Rock Island, Iowa-Ill., Santa Fe, N.M. and Jefferson City, Mo.
• 152 show more than a 50 percent rebound, up from 143 markets in the previous month.
• 24 percent (19) of the 80 fully rebounded markets reported month-over-month losses, and the remaining averaged 1 percent gains month-over-month compared to .75 percent gain in non-recovered markets. This illustrates the seasonal downtrend in the housing market along with a leveling of home prices.
• 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,
For more information, visit www.Realestateeconomywatch.com
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