Fast times in Florida. High home price growth in Jacksonville has made The River City the fastest-growing metropolitan housing market in the nation, with prices up 2 percent quarter-over-quarter, according to Clear Capital’s recently released Home Data Index (HDI) Market Report. Quarter-over-quarter prices nationwide, by comparison, are slowing, up 0.8 percent.
Home prices in the South overall are following national movement, slacking to 0.6 percent quarter-over-quarter, with plodding growth in Baltimore, Md., Birmingham, Ala., Houston, Texas, Louisville, Ky., New Orleans, La., and Virginia Beach, Va.—all rising by less than the regional trend.
Both the Northeast and West are ahead of what is playing out in the national arena, with home prices in the Northeast up 1 percent quarter-over-quarter and prices in the West up 1.2 percent quarter-over-quarter. The West has gotten a boost primarily from hot housing markets in Arizona, the Pacific Northwest and the Sacramento Valley.
The most sluggish growth continues in the Midwest, where home prices are up 0.5 percent quarter-over-quarter. Two juggernauts in Ohio, Cincinnati and Cleveland, are also losing steam. Chicago, Ill., however, remains an outlier, with quarter-over-quarter prices leaping 1.7 percent.
Source: Clear Capital
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