National home prices continue to moderate following last year's double-digit surge. Distressed saturation fell to 16.8 percent nationwide, "suggesting the shortage of lower-priced inventory is the catalyst for stalling gains," according to Clear Capital's latest Home Data Index Market Report.
"The housing recovery is at a pivotal point — it's in need of restored consumer confidence and non-investor demand," the report notes.
But some markets remain the exception. For example, Detroit has ranked within the top three highest-performing metros for the fifth consecutive month. Clear Capital pointed out the following markets as having the biggest price gains:
- Detroit–Warren–Livonia, Mich.
Year-over-year price gains: 20.3%
Distressed saturation: 19.5% - Atlanta–Sandy Springs–Marietta, Ga.
Year-over-year: 13.3%
Distressed saturation: 19.4% - Pittsburgh, Pa.
Year-over-year: 9.6%
Distressed saturation: 9.4% - Dayton, Ohio
Year-over-year: 10.9%
Distressed saturation: 19.3% - New Orleans–Metairie–Kenner, La.
Year-over-year: 9.2%
Distressed saturation: 15.6% - Milwaukee–Waukesha–West Allis, Wis.
Year-over-year: 4%
Distressed saturation: 17.5% - Memphis, Tenn.
Year-over-year: 5.8%
Distressed saturation: 24.8% - San Jose–Sunnyvale–Santa Clara, Calif.
Year-over-year: 11.4%
Distressed saturation: 4.6% - Bakersfield, Calif.
Year-over-year: 11.2%
Distressed saturation: 16.8% - Denver–Aurora, Colo.
Year-over-year: 9.4%
Distressed saturation: 7.4%
Source: Clear Capital
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