Magazine article Mortgage Banking

Detroit Is Best-Performing Market on Quarterly Price Gains

Magazine article Mortgage Banking

Detroit Is Best-Performing Market on Quarterly Price Gains

Article excerpt

Truckee, California-based Clear Capital released its latest Home Data Index[TM] (HDI) Market Report on Oct. 6, and the findings show Detroit topped the list of best-performing major markets with a quarterly price gain of 2.9 percent. The Motor City's annual price gains for data through September reached 21.9 percent--far outpacing all other major metropolitan statistical area (MSA) markets on the best-performing list.

In second place for quarterly home price gains was Birmingham, Alabama (+2.7 percent); followed by New Orleans (+2.3 percent); San Francisco (+2.2 percent); and San Jose, California (+2.1 percent).

Of the 15 metros on the list of highest-performing major metro markets, Orlando, Florida, had the highest share of distressed sales as a percentage of all sales at 34.7 percent. Miami had the second-highest distressed-sales share of the top-performing metros at 28.2 percent.

Leading the list of lowest-performing major metro markets for the HDI report including September data was Hartford, Connecticut, with a quarterly price decline of 1. …

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