A recently released market index shows significant improvement in the top 100 markets this month. Results show that 60 of the top 200 midsize markets have fully recovered their loss in home prices due to the housing bubble burst, citing the Greensboro-High Point market as a recent entry in that group (103.4 percent). These advancements bring the total markets with full recovery to 89 (30 percent), up two from the previous month’s 87. While the number of top 100 markets achieving a full recovery increased by one from the previous month to 29, there is also noticeable improvement in the number of midsize markets seeing full recovery.
The December Local Market Index, recently released by Homes.com, is 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. All of the 200 midsize local markets continued to show gains year-over-year for the single family index.
The latest Homes.com Local Market Index reports the following:
• Year-over-year increases in all top 300 markets.
• Monthly increases in 82 of the top 100 markets and in 167 of the 200 midsized markets.
The Homes.com Rebound Report shows 89 markets have made a 100 percent rebound, indicating a complete recovery. This is an increase from 87 markets in the previous reporting period.
“With the largest year-over-year housing market price increases in seven years, the U.S. housing market is in a great position to continue making steady gains in 2014,” says Brock MacLean, executive vice president of Homes.com. For more information, visit www.homes.com.
For a closer look at what the Greensboro real estate market has to offer, visit www.bhhsyostandlittle.com today.