February's U.S. Home Prices Signal Solid Start to Spring Buying Season
Clear Capital recently released its Home Data Index(TM) (HDI)
Market Report with data through February 2013. Using a broad array of public and
proprietary data sources, the HDI Market Report publishes the most granular home
data and analysis earlier than nearly any other index provider in the
According to the report, february's home prices are up 6.1
percent over the year, and quarterly price trends at the national and regional
levels show moderate improvement over the typically slow winter season.
Additionally, 11 (of 15) of the lowest performing major metro markets saw
quarterly price trends in February give way to minor losses.
February's yearly growth of 6.1 percent is encouraging, let's remember this rate
of growth is measured against the market's bottom, which we reported in our
March 2012 Market Report," says Dr. Alex Villacorta, director of research and
analytics at Clear Capital." Consumer confidence continues to be vital to a
broader housing recovery and national quarterly home prices expanding 1.0
percent in the midst of winter is confirmation the recovery has legs. While 1.0
percent is weaker in comparison to more recent rates of quarterly growth, the
positive trend continues to support homebuyer confidence and is on par with the
Recent updates on the regulatory front could also build
momentum in the housing revival. The Qualified Mortgage (QM) rule gives lenders
more definition on extending credit to homebuyers, who continue to
encouraged by positive economic signs. The real question now is how many
of those sidelined borrowers will qualify for a loan under the new rules. All
told, February's home data shows the housing recovery on track."
information, visit www.clearcapital.com.