Home Price Appreciation on a Decelerating Trend

714-997-3486

Appreciation is on a decelerating trend, according to ATTOM Data Solutions' latest quarterly report. On a national scale, prices rose 6.3 percent in the second quarter of 2018—the fifth quarter in a row of slowing.

"Annual home price appreciation nationwide has now slowed for five consecutive quarters following a post-election spike to double-digit appreciation in the first quarter of 2017," says Daren Blomquist, senior vice president at ATTOM Data Solutions. "Although home sellers are still in the driver's seat of this housing market, moderating home price appreciation is good news for prospective homebuyers and signals that rising mortgage rates and other housing headwinds are cooling red-hot home price appreciation in some areas."

Highlights from the Q2 report:
  • From Q2 2017 to Q2 2018, appreciation was fastest in Boise, Idaho (+14.3 percent), Flint, Mich. (+23.7 percent), San Francisco, Calif. (+14.2 percent), San Jose, Calif. (+25 percent) and Seattle, Wash. (+14.3 percent).
  • In Q2 2018, appreciation picked up in 42 (or 34 percent) of the 122 metros in the report, including in Boston, Mass.; Detroit, Mich.; New York, N.Y.; San Francisco, Calif.; and Washington, D.C., but slowed in 80 (or 66 percent), including in Chicago, Ill.; Dallas-Fort Worth, Texas; Houston, Texas; Los Angeles, Calif.; and Philadelphia, Pa.
  • In Q2 2018, the median home price in 79 (or 65 percent) of the 122 metros was above its pre-recession peak, including in Dallas-Fort Worth; Denver, Colo.; Greeley, Colo.; Houston; and San Antonio, Texas. In 43 (or 35 percent) of the metros, including in Atlantic City, N.J.; Naples, Fla.; Salisbury, Md.; Trenton, N.J.; and York, Pa., the median home price remains under. 
DRE#01266522

Location: Orange, CA, USA

Comments

Post a Comment

Popular posts from this blog

Orange County Housing Summary: June 27, 2023

Image
David Deem Broker Associate 714-997-3486 Dave@DeemTeam.com   ·        The active listing inventory in the past couple of weeks increased by 85 homes, up 4%, and now sits at 2,281. Regardless, it is the lowest level for an end to June since tracking began in 2004. In May, 45% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 1,879 less. Last ye ar, there were 3,491 homes on the market , 1,210 more homes, or 53% higher . The 3-year average before COVID (2017 to 2019) was 6,633, or 191% more, nearly triple. ·        Demand, the number of pending sales over the prior month, increased by 7 pending sales in the past two weeks, nearly unchanged, and now totals 1,602, the lowest level for an end to June since tracking began in 2004. Last year, there were 1,861 pending sales, 16% more than today . The 3-year average before COVID (2017 to 2019) was 2,679, or 67% more . ·        With the supply rising, the Expected Market Time, the number of days to sell
Read more

Orange County Housing Summary:May 2, 2023

Image
David Deem 714-997-3486 Dave@DeemTeam.com   ·        The active listing inventory in the past couple of weeks increased by 34 homes, up 1%, and now sits at 2,076, this first substantial rise of the year. Nonetheless, it is the lowest level at the end of April since tracking began in 2004. In April, 49% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 1,983 less. Last ye ar, there were 2,104 homes on the market, 28 more homes, or 1% higher. The 3-year average before COVID (2017 to 2019) was 6,002, or 189% more. ·        Demand, the number of pending sales over the prior month, increased by 43 pending sales in the past two weeks, up 3%, and now totals 1,706, the lowest end-of-April reading since 2020 during the COVID lockdown. Last year, there were 2,154 pending sales, 26% more than today. The 3-year average before COVID (2017 to 2019) was 2,780, or 63% more. ·        With the inventory and demand rising at a similar rate, the Expected Market Tim
Read more

Orange County Housing Summary: September 20, 2022

Image
  David Deem 714-997-3486 Dave@DeemTeam.com          ·         The active listing inventory in the past couple of weeks decreased by 304 homes, down 2%, and now sits at 3,638, its lowest level since June. In August, there were 30% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 1,054 less. Last ye ar, there were 2,289 homes on the market , 1,349 fewer homes, or 37% less . The 3-year average prior to COVID (2017 to 2019) was 6,520, or 79% more. ·         Demand, the number of pending sales over the prior month, decreased by 75 pending sales in the past two weeks, down 4%, and now totals 1,756. It is still the lowest reading for mid- September since 2007. Last year, there were 2,623 pending sales, 49% more than today . The 3-year average prior to COVID (2017 to 2019) was 2,363, or 35% more . ·         With demand dropping faster than the supply of homes , the Expected Market Time, the number of days to sell all Orange County listin
Read more