Real Estate Rebound: Top 100 Local Markets Show Annual Gains for Seventh Month in a Row
For the seventh consecutive month, all top 100 local markets saw year-over-year increases according to the most recent Homes.com Local Market Index and Rebound Report. Eighty-eight local markets increased month to month. This is exciting news as we move in 2014.
Due to seasonal real estate trends, there was little change in the markets moving to full rebound. Only 26 out of 100 markets have shown a full recovery in the last two months. While the number of top 100 markets achieving a full rebound stayed flat from the previous month, there is continued improvement in the number of these markets increasing in their overall recovery. 55 out of the top 100 markets have recovered more than fifty percent of their loss in home prices.
The Western region of the U.S. has stood out due to its nine out of the top 10 markets seeing year-over-year increases. Honolulu, HI remains the top gaining market on a year-over-year basis. This month, California has dominated with eight of the top 10 annual gaining markets. Monthly however, the top 10 midsize markets were all in the South region.
The recent month’s price trends and rebound advancements continued to show progress for the recovery of home prices in the U.S. Although progress to full recovery has been static, annual gains were slightly stronger, which has helped reduce the number of markets with a 0-25% range of recovery/rebound and increase the number of markets within the 75-100% range of recovery.
Could now be the time to buy or sell your home? Get more information about the rebound in your local market area in this Homes.com Rebound Report, or read the full report in the Homes.com Rebound Report press release.