Howestreet.com - the source for market opinions

ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION

February 25, 2019 | 23 Cities Have 5-Yr Home Price Gains of 40%, Case-Shiller-20 Up 57% in 6 Yrs

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
Point2Homes notes 23 US cities had 40% or more home price appreciation in 5 yrs. I compare to Case-Shiller 20 metro area

  • 18 of the 83 largest North American real estate markets saw home prices jump over 50% in just 5 years. Of the 18 markets with the most explosive growth, 11 are in the US, 6 in Canada, and 1 in Mexico.
  • Only 2 cities witnessed a drop in home price compared to 5 years ago, and both are located in Alberta, CA: Calgary and Edmonton.
  • San Francisco boasts the highest net increase of all the cities in the study ($550,000), followed by 2 Canadian cities: Vancouver ($417,913 CAD) and Surrey ($395, 287 CAD).

Top Ten North America Price Jumps

40% and Over Club USA

  1. Detroit, MI: 97% *
  2. San Francisco, CA: 69% *
  3. Seattle, WA: 66% *
  4. San Jose, CA: 58%
  5. Sacramento, CA: 56%
  6. Nashville, TN: 55%
  7. Bronx, NY: 54% **
  8. Columbus, OH: 53%
  9. Queens, NY: 52% **
  10. Brooklyn, NY: 52% **
  11. Fort Worth, TX: 52%
  12. Denver, CO: 50% *
  13. Las Vegas, NV: 48% *
  14. Milwaukee, WI: 48%
  15. Jacksonville, FL: 46%
  16. Portland, OR: 46% *
  17. Philadelphia, PA: 45%
  18. Boston, MA: 44% *
  19. Phoenix, AZ: 43% *
  20. Los Angeles, CA: 43% *
  21. Indianapolis, IN: 42% *
  22. Staten Island, NY: 41% **
  23. Charlotte, NC, 40% *

* Denotes member of Case-Shiller Top 20 Metro Areas by size, not price.

** Part of New York City which is in the Case-Shiller top 20.

12 cities in the above list (grouping the NY Burroughs as 1), are in the 40% or greater price appreciation group.

Case Shiller Top 20 Metro Areas

Atlanta, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, Portland, San Diego, San Francisco, Seattle, Tampa and Washington, D.C.

Case Shiller Top 20 Price Index

Methodology

Unlike Case-Shiller, Point2Homes factors in both new and existing home prices. Case-Shiller only looks at resales.

Sticker Shock

I will ask Point2Hoimes for an analysis of the Case-Shiller top 20 metro area from the March 2012 bottom to now, grouping NYC as a single entity.

Had ​Point2Homes gone back one more year, the price gains would have been even more incredible.

Mike “Mish” Shedlock

STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the HoweStreet.com Weekly Recap.

February 25th, 2019

Posted In: Mish Talk

Post a Comment:

Your email address will not be published. Required fields are marked *

All Comments are moderated before appearing on the site

*
*

This site uses Akismet to reduce spam. Learn how your comment data is processed.