RENO, NV–(Marketwired – August 23, 2017) – Today, Clear Capital released its monthly Home Data Index™ (HDI™) report, revealing quarter-over-quarter accelerated home price appreciation growth for Detroit, Michigan. Despite Detroit’s gains, additional market data showed the Midwest continuing to trail the rest of the nation in price growth.
Market report data aggregated through August show accelerated growth for Detroit with quarter-over-quarter rates up from 0.9 percent to 1.3 percent. In addition, Detroit is the only MSA in the Midwest featured in the top 15 performing markets, according to current data.
Within the Midwest region, other MSAs are stalling or showing stagnant quarter-over-quarter growth. Four Ohio MSAs, Dayton, Cincinnati, Columbus and Cleveland, are among the slowest growing markets with quarter-over-quarter rates all at or below 0.2 percent. The Windy City, Chicago, growth continues to stall and is down from 1.3 percent to 1.1 percent since last month. Furthermore, Milwaukee’s negative growth from last month, has increased slightly from -0.2 percent to 0.3 percent quarter-over-quarter growth.
“The real stand-out in this month’s market report is Detroit,” shared Clear Capital CEO and Co-Founder Duane Andrews. “Considering just four years prior, Detroit was the largest city in U.S. history to file for Chapter 9 Bankruptcy protection, and to see a bounce back across the city’s quarter-over-quarter home price appreciation is both impressive and encouraging news for the industry and region.”
The Clear Capital August HDI report features the top 15 appreciating and depreciating MSAs based on quarter-over-quarter and year-over-year data, as well as national performance based on four separate regions: West, Midwest, South and Northeast.
Clear Capital’s HDI platform runs on patent-pending indexing technology and provides housing market data and analysis that assist mortgage lenders and financial organizations with a holistic view of market performance, trends and forecasting.
