11 Feb Index: Prices Up ‘Across the Board’ in 2014, Midwest Expected to Outpace the Nation
With 2014 behind us, 2015 promises changes within the market as the housing recovery moves forward, according to recently released information from Clear Capital, a provider of data and solutions for real estate asset valuation and collateral risk assessment. The company recently released its Home Data Index (HDI) Market Report with data through 2014.
“Overall 2014 was a good year with prices up virtually across the board, though the rate of price growth has declined consistently since the year began,” said Dr. Alex Villacorta, vice president of research and analytics at Clear Capital. “As we turn the calendar, we expect this trend to continue. Nearly all markets have experienced significant turbulence over the last decade and are only now showing signs of stabilization. This stabilization is likely to persist through the first half of the year until the market’s recovery strength can again be measured going into the traditional buying season.”
Expect more from the Midwest as it outpaces the nation. Price growth in the Midwest is expected to outpace the nation on all tiers by 1.6 percentage points, nearly double that of the nation, in 2015. A cluster of metro areas that are projected to see some of the highest price growth over the next year are also located in the Midwest.
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