The Homes.com Local Market Index and Rebound Reports to include data ending September 2013 have been released and there is a lot to talk about! For starters, the noise surrounding the Federal Reserve tapering its stimulus program has been silenced. According to Janet Yellen, incoming chair of the Federal Reserve, there’s “no set time” for the programs end.
Keeping things on a positive note, 90 of the top 100 markets witnessed monthly increases and all 300 top and midsized markets saw annual increases. As what seems to be a continuing trend, all midsized markets measured annual gains for the fourth consecutive month.
Last month’s report showed that 49 markets had experienced declines, we’re excited to say that eighteen of those markets have now completely recovered from the effects of the housing bubble burst. Although there have been significant increases from last month’s data, seasonal downtrends and market stabilization have kept the fully recovered markets of the Top 100 constant at twenty six.
“As we end the third quarter, both large and small markets that previously achieved full price recovery from the housing depression consolidated their gains reached during the home buying season. One in four surpassed their pre-recession peak values,” said Brock MacLean, executive vice president of Homes.com.
Here are some of the highlights from this month’s Local Market Report:
- All 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.
- Honolulu, Hawaii once again has the top gaining year-over-year market with a 28.88 index value.
- Year-over-year increases in each of the top 300 markets
- Monthly increases in 161 of the 200 midsized markets.
Highlights for the top 3000 from the Homes.com Rebound Report:
- Up from 143 markets in our previous report, 152 markets now so more than 50 percent rebound
- Increasing by 77 markets from our last report, 80 markets now have made more than a 100 percent recovery
- Of the 80 markets that have more than recovered, 19 reported month-over month losses.
- San Antonio-New Braunfels, TX has seen the largest rebound (311.84%)
“These price gains are restoring millions of homeowners to positive equity and are reviving local real estate markets across the country” concludes MacLean.
To find more information on this month’s reports, take a look at the full press release. Take a look at the Local Market Index Report for more information on the top 100 markets and midsized markets. To see how your local market has recovered since the housing bubble burst, check out the Homes.com Rebound Report.