Home price appreciation growth has accelerated quarter-over-quarter and year-over-year in the southern region of the U.S., according to Clear Capital’s Home Data Index (HDI) Market Report.
Further, the report specifies that three out of four major southern metropolitan statistical areas (MSAs) – Dallas, Texas; Memphis, Tenn.; and Tampa, Florida – are among the fastest growing.
Current HDI aggregated data through July identified an upward trajectory in home price trends across the three metro areas, with Dallas doubling quarter-over-quarter from 0.9% to 1.8%. In the Sunshine State, Tampa home prices grew 1.9%, up from 1% the previous month, and Memphis grew from 1.5% to 1.9% quarter-over-quarter.
Clear Capital says its HDI platform runs on patent-pending indexing technology and provides housing market data and analysis that assist mortgage lenders and financial organizations with a holistic view of market performance, trends and forecasting.
“With demand rising and inventory remaining tight, home prices will continue on an upward trajectory for the southern region,” says Duane Andrews, Clear Capital CEO and co-founder. “Nationally, home price growth quarter-over-quarter has held steady at 0.8% with the southern states as a whole keeping pace, but that doesn’t necessarily mean that prices are rising too quickly. In Clear Capital’s June HDI report, we shared that Florida’s metros were experiencing a boost in domestic migration, which has contributed to double-digit year-over-year home price growth, as well as a decline in distressed saturation rates.”