Each month, HVF Monthly Housing Market Report uses a number of leading real estate market-based indicators to report on activity in the single-family home markets in the top 200 metropolitan areas (CBSAs) in the U.S.
Happy New Year from all of us at Home Value Forecast! This month we look at the final Top and Bottom 10 real estate markets of 2017.
Nine of Top 10 in Washington state or California
As with most months this year, California (5) and Washington state (4) metros dominated the list of Top 10 markets in December. With the nation’s new tax code limiting the benefits of home ownership in high state-tax states like California, we will keep an eye on trends throughout 2018 to see if there’s any impact on prices and appreciation.
The Bottom Ten
The Bottom 10 look much better than in years past, with only Atlantic City and Detroit being in our “weak or distressed” market condition. The remaining eight markets are deemed “soft.”
Employment is a key driver in home pricing, as can be seen in the case of Atlantic City from our Bottom 10:
And Seattle, as an example from our Top 10:
Interested in learning more about one of the metros featured in this month’s market report? Contact SVI for more in-depth information on each CBSA included in this month’s report.
About SVI’s Monthly Market Report
The Home Value Forecast uses a ranking system that is purely objective and is based on directional trends of nine market indicators. Each indicator is given a score based on whether the trend is positive, negative or neutral for that series. For example, a declining trend in active listings would be positive, as will be an increasing trend in average price. A composite score for each CBSA is calculated by summing the directional scores of each of its indicators. From the universe of the top 200 CBSAs, each month we highlight topics and trends in the real estate market.
