Ten of the highest performing major market metros are expected to improve their performance over the first half of the year, with five of the top 10 even expected to see modest gains, reports Clear Capital in its latest monthly Home Data Index.
While housing prices in the first half of the year were mostly negative among the metro areas, Clear Capital says the market is showing signs of stabilizing.
The following are the highest performing major markets based on first half 2011 data (January through June) and second half forecast, according to Clear Capital.
1. Washington, D.C.-Arlington, Va.
2. New York-Long Island, N.Y.-No. New Jersey, N.J.
4. Dallas-Fort Worth-Arlington, Texas
5. San Francisco-Oakland-Fremont, Calif.
6. Boston-Cambridge-Quincy, Mass.
8. San Diego-Carlsbad-San Marcos, Calif.
9. Rochester, N.Y.
10. Memphis, Tenn.
Yet, only five of these markets are expected to boast home price gains in the second half of 2011: Washington, D.C., New York, Orlando, Dallas, and San Francisco, according to Clear Capital.
Meanwhile, the lowest performing markets were Virginia Beach-Norfolk-Newport News, Va.; Cleveland-Elyria-Mentor, Ohio; and Minneapolis-St. Paul-Bloomington, Minn., according to Clear Capital.
“While most individual markets are also projected to post losses for the year, it is clear prices have begun to level off and are not exhibiting as much volatility as we’ve seen since the downturn began,” says Alex Villacorta, director of research and analytics at Clear Capital.
Source: “Clear Capital Home Data Index Forecast Reveals Further Price Declines for Second Half of 2011,” Clear Capital (July 8, 2011)