Nationally, year-over-year gains have slowed from a year ago — but some markets are bucking that trend.
In 40 of the 100 largest markets, price gains have accelerated, according to the latest Trulia report, noting that price gains are concentrated in the Midwest and south.
Prices gains have accelerated most in Dayton, Ohio; Louisville, Ky.; and Akron, Ohio, respectively.
“However, the speed-ups aren’t as dramatic as the slowdowns,” says ays Jed Kolko, chief economist at Trulia. “In no metro have prices accelerated by more than 10 percentage points. Dayton comes closest at 9.1 percentage points.”
By contrast, prices have slowed by more than 10 percentage points in 12 metros, including Orlando, Fla. and Fort Lauderdale, Fla. In the most extreme case, Las Vegas, Nev. prices rose 10.1% in October 2014 versus 31.9% in October 2013, a drop of 21.8 percentage points.
The month-over month increase in asking home prices nationwide rose to 1% in October. Year-over-year, asking prices rose 6.4%, down from the 10.6% year-over-year increase in October 2013. However, asking prices rose year-over-year in 91 of the 100 largest U.S. metros.
“Markets that had a moderate housing bust experienced a gentler rebound in 2013 and slowdown in 2014,” Kolko says. “Markets that had only a mild housing bust have seen year-over-year price gains ease back just slightly, from 6.8% in October 2013 to 6.2% in October 2014.”
Read the report here.
Written by Cassandra Dowell
