HOUSINGNEWS REPORT
MY TAKE
HOME PRICE INDEX TABLE
City
Sept 2017 Growth Vs. Last Month Growth Vs. 6 Mo Ago Growth Vs. 1 Year Ago Aug 2017 Mar 2017 Sept 2016
AZ-Pheonix
6.06% 6.18% 8.17% 7.16% 3.12% 4.97% 7.25% 5.43% 3.90% 7.23% 6.94% 5.43% 6.23% 9.01% 5.15% 5.44% 7.31% 7.15% 5.70% 6.19% 6.15% 12.90%
Better Better Better Better Worse Better Better Better Better Better Better Worse Worse Better Better Better Better Better Better Worse Better Better Better
Better Better Better Better Worse Worse Worse Better Worse Worse Worse Worse Worse Worse Better Better Better Worse Worse Better Better Better Better
Better Better Better Better Worse Better Worse Worse Better Better Better Better Better Better Better Better Better Worse Worse Better Better Better Better
5.74% 5.52% 5.26% 6.00% 5.31% 5.80% 7.78% 6.36% 5.33% 6.08% 5.05% 5.69% 7.25% 8.31% 8.73% 3.12% 3.73% 1.74% 4.85% 5.91% 6.62% 6.83% 6.71% 7.51% 5.39% 5.60% 5.23% 3.62% 4.64% 2.97% 6.90% 7.65% 4.20% 7.25% 7.24% 6.26% 5.67% 6.89% 5.26% 6.13% 6.48% 5.94% 8.54% 6.42% 5.60% 4.14% 4.38% 2.19% 4.44% 4.62% 2.84% 7.21% 9.15% 10.85% 7.11% 8.62% 8.04% 13.21% 12.29% 11.01% 5.21% 5.20% 4.17% 5.82% 5.91% 5.00% 5.95% 5.69% 5.15%
CA-Los Angeles CA-San Diego
CA-San Francisco 7.04%
CO-Denver
DC-Washington
FL-Miami FL-Tampa GA-Atlanta IL-Chicago MA-Boston MI-Detroit
MN-Minneapolis NC-Charlotte NV-Las Vegas NY-New York OH-Cleveland OR-Portland
TX-Dallas WA-Seattle
Composite-10 Composite-20 National-US
% BETTER
83%
52%
78%
SOURCE: S&P, DOW JONES
behind the hockey stick growth curve in demand. Necessarily, growth took a hiatus during the downturn. Housing supply was scooped up at bargain basement prices putting anyone who didn’t need to sell in a holding pattern. Supply quickly evaporated as prize- takers descended on the fire sale that was housing. Ever since, the rate of replenishing supply has suffered from a sluggish and heavy burdened re-start while demand has built momentum at a sprinter’s pace. Today, supply of existing homes is near a 30-year low, according to the Census Bureau and is declining at a rate of
about 10 percent per year. In many major metropolitan areas, demand is strong and growing. The divergent forces of supply and demand have created unsustainable home price appreciation. Today, home values in many metros across the nation are experiencing year-over-year price appreciation that is still accelerating and is projected to continue into 2018. The table above shows the 20 largest regions in a home price report and highlights those regions with accelerating year-over-year appreciation rates in addition to a
“In many major metropolitan areas, demand is strong and growing. The divergent forces of supply and demand have created unsustainable home price appreciation. Today, home values in many metros across the nation are experiencing year-over-year price appreciation that is still accelerating and is projected to continue into 2018.”
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DECEMBER 2017 | ATTOM DATA SOLUTIONS
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