Top 100 Markets Show Annual Gains for Tenth Month in a Row!

For the tenth consecutive month, all of the top 100 local markets measured continued to show annual gains year over year for single-family properties, per the Homes.com Local Market Index. Eighty three markets witnessed month-to-month gains, up one market from the 82 that gained in last month’s report.

This month, 29 out of the top 100 markets measured continued to show a complete price recovery- the same amount as December. However, markets like Salt Lake City, UT, Madison, WI, and Chattanooga, TN posted significant gains in January and are close to full recovery at 99.69%, 97.54%, and 97.22%, respectively. Additionally, 63 midsize markets (ranked 101 to 300 in population, based on the U.S. Census Bureau) have rebounded more than 100%, up three from last month with the additions of Bloomington-Normal, IL, Appleton, WI and Warner Robins, GA, who saw rebound percentages of 105.01%, 101.13%, and 100.71%, respectively. This brings the total to 92, or 31% of the U.S. markets achieving a full recovery. This month’s rebound advancements continued to illustrate progression with the recovery of home prices.

Of the top 100 markets, 9 of the Top 10 Markets that saw the highest year-over-year index point change are in the West. The Miami-Fort Lauderdale-Pompano Beach, FL metro area is the only city not from the West region included in the top 10. From a month-to-month standpoint, the South region continued to gain in momentum, with 9 of the top 10 markets coming from that region. El Paso, TX, who is represented in the Southern region, was the top performer with a 3.31 index point change and a 2.04% percentage change. The only market not from the South region to make the top 10 month-to-month list is Albuquerque, NM, which is in the West.

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