Each month, Home Value Forecast uses a number of leading real estate market-based indicators to monitor single-family home market activity in the nation’s top 200+ metropolitan areas (CBSAs) and report on the Top 10.
THE TOP 10
The Home Value Forecast Top 10 Hottest Housing Markets ranking system is purely objective and is based on directional trends over the past eight quarters. It’s not a listing of what markets are most expensive or most in need of inventory; it ranks market momentum at a specific point in time.
This month’s Top 10 again is topped by Washington state metros:
Like last month, 225 of the 229 metros we track had a sales price to list price ratio of 100% or more.
Nationally, home prices are up approximately 15% from last year. For September, our Top 10 CBSAs in appreciation include:
|CBSA Name||Sold Price||SP Pct Change|
|Austin-Round Rock, TX||490,000||37.48|
|Boise City, ID||480,000||33.52|
|Naples-Immokalee-Marco Island, FL||615,000||32.26|
|Homosassa Springs, FL||245,000||31.02|
|Salt Lake City, UT||535,000||27.41|
|Punta Gorda, FL||323,760||27.26|
To put that into perspective, the average home that sold for $346,415 last year would sell for $490,000 today.
ABOUT PRO TECK’S MONTHLY HOUSING MARKET REPORT
The Home Value Forecast uses a ranking system that is purely objective and is based on directional trends of 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 would an increasing trend in average price. A composite score for each CBSA is calculated by summing the directional scores of each of its indicators.