U.S. Housing Recovery Progresses in 2013, January’s Momentum Stalls. According to Clear Capital’s latest Home Data Index (HDI) Market Report for January 2013, quarterly US home price trends both nationally and regionally strengthened with the exception of the Midwest, while major metro markets in Florida missed the top performing list for the first time since September 2011.
“Home price trends in January remained solid overall, considering we are in the middle of the toughest time of year for real estate, “said Dr. Alex Villacorta, Director of Research and Analytics at Clear Capital.”We saw quarterly trends continue to soften, while yearly gains strengthened, suggesting the budding recovery is not immune to the slower winter season. What remains to be seen is if home prices will continue to rise, or remain stable through the winter. Regardless of what trends play out in the near term, we expect home prices to continue on a positive trajectory long term.
“On a more micro level, Florida metros, namely Miami, Orlando, Tampa, and Jacksonville, were all missing from the top 15 performing market list. Since September 2011, at least one of these markets made the list. While this isn’t confirmation that the recovery is finished in the sunshine state, it’s certainly something to keep an eye on. These markets led the recovery in late 2011, and share some of the hallmarks for recovering markets overall. But so far, each of these metros remains in positive territory, and it looks like the state is simply experiencing what is par for the course, fewer buyers in the typically slow winter season.”
By Michael Gerrity, World Property Channel on February 5, 2013 9:18 AM
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