Home price appreciation continued to slow during the three-month period ended August, according to the Clear Capital Home Data Index.
Nationally, home prices increased 1.1% compared with the previous quarter and 2.7% compared with the three-month period ended August 2024. The Northeast and the Midwest continue to outperform, while the West and the South lag behind the rest of the U.S.
The Northeast was the top-performing market, rising 2.4% quarterly and 6.3% annually. The top Northeastern metropolitan statistical area (MSA) was once again Rochester, N.Y., where prices rose 4.0% on a quarterly basis and 7.4% annually.
The New York City area saw strong growth, rising 2.7% on a quarterly basis and 7.8% annually.
Hartford also performed well, rising 1.7% quarterly and 7.5% on an annual basis. Despite the high numbers, these MSAs declined relative to July.
The Midwest was the next-best performer, with prices rising 2.4% on a quarterly basis and 4.8% annually. Cleveland was the top performer, with prices rising 3.4% on a quarterly basis and 7.5% on an annual basis.
Milwaukee saw prices rise 2.9% on a quarterly basis and 6.3% on an annual basis. Chicago was a top performer as well, with prices rising 2.5% on a quarterly basis and 6.3% on an annual basis.
Photo: Jacques Bopp