The newest Homes.com Local Market Index reports the following:
– Monthly increases in 83 of the top 100 markets, off from all 100 markets improving in April. Markets with decreases in index values were marginal, with the largest decrease only 1.12 index points in Worchester, Mass.
– New Orleans-Metairie-Kenner, La. showed the largest month-over-month improvement with an increase of 6.09 index points.
– Honolulu, Hawaii remains the top gaining market on a year-over-year basis.
– California markets [San Francisco-Oakland-Fremont, Calif.; Los Angeles-Long Beach-Santa Ana, Calif.; and San Diego-Carlsbad-San Marcos, Calif.] increased year over year by 21.05, 20.73 and 18.21 index points respectively.
– Seven of the top 10 monthly gaining markets are in the West, two are from the Northeast, and one is from the South.
Highlights from the Homes.com Rebound Report for the top 100 markets show:
– 19 have made more than a 100% rebound, indicating a complete recovery in these markets. This is up from 14 markets posting a full recovery in last month’s report and 9 in the prior month.
– 39 show more than a 50% rebound, up from 35 markets in the previous report.
– Eight of the top 10 markets are from Texas and Oklahoma, with five exceeding a 200% rebound.
– Two markets in Colorado exceeded a 100% rebound. Denver-Aurora-Broomfield and Colorado Springs, Colo. rebounded 119.97% and 109.82% respectively.