The ten top-performing major housing markets are all expected to show continued improvement over the first six months of 2011, and five of them are even being forecast to show gains, although these will be modest, according to the latest Home Data Index by Clear Capital.
Despite the fact that home prices in major metro areas were for the most part negative in the first half of the year, Clear Capital reports that the market is beginning to stabilize at last.
However, Clear Capital says that only five of the leading markets will be likely be displaying increases in the price of homes over the second half of the year, including Dallas, New York, Orlando, San Francisco and Washington DC.
1. Washington, D.C.-Arlington, Va.
2. New York-Long Island, N.Y.-No. New Jersey, N.J.
4. Dallas-Fort Worth-Arlington, Texas
5. San Francisco-Oakland-Fremont, Calif.
6. Boston-Cambridge-Quincy, Mass.
8. San Diego-Carlsbad-San Marcos, Calif.
9. Rochester, N.Y.
10. Memphis, Tenn.
On the other end of the scale, the worst performing markets were reported to be Cleveland-Elyria-Mentor in Ohio, Minneapolis-St. Paul-Bloomington in Minnesota, and Virginia Beach-Norfolk-Newport News in Virginia, said Clear Capital.
“Altogether, most of the individual markets are projected to show losses again in 2011, but despite this it is clear that home prices are beginning to level off at last. We are not seeing nearly as much volatility with prices for the first time since the beginning of the economic downturn,” explained Clear Capital’s director of research and analytics, Alex Villacorta.