RISMedia.com
As the year draws to a close, housing continues to recallibrate and the Midwest maintains its impressive trend, according to Clear Capital’s December 2015 HDI Market Report. November?s data shows Detroit up 135 percent from the trough, with other regional MSAs demonstrating strong growth. In January Clear Capital predicted that the Midwest would be a frontrunner this year for both homeowners and and investors, and the regions small percentage point gains, subsiding losses, and decreased volatility indicate steady improvement that is reflective of the greater recovery.
“As we approach the end of the year, the state of American housing is as we thought 2015 would play out-a wait-and-see year,” says Alex Villacorta, Ph.D., vice president of research and analytics at Clear Capital. “The slow moderation of prices back to historical rates of growth is the most defining attribute of the market over the year. Although housing continues to stabilize, there is still significant variability in individual market performance. For example, some Midwest markets still have a ways to go to return to their pre-bust levels, while other Western markets are seeing all-time highs. Perspective remains key.”…