As of Q3 2018, more than two thirds (69%) of median home prices are above pre-recession levels. 77% of metros have median home prices above the post-recession trough of $145,000 during Q1 2012.
Take a look at the top ten:
Dallas TX – +86%
Houston TX – +85%
Kennewich Richmond WA – +81%
Greeley CO – +77%
San Antonio TX – +73%
Denver CO- +72%
Indianapolis IN – +69%
Fort Collins CO – +68%
Salt Lake City UT – +65%
Provo – Orem UT- +65%
Take a look at the bottom five:
Montgomery AL – -32%
York PN – -32%
Atlantic City NJ – -30%
Naples FL – -20%
Cape Coral – Ft. Myers FL -16%
Q3 2018 sellers gained an average of $61,232 since purchasing their homes. This $61,232 represents a 32.3% return on investment, the highest average home seller price gain since Q2 2007.
Metros leading the way in terms of ROI included
- San Jose – +108.7%
- San Francisco – +77.3%
- Seattle – +69.8%
- Santa Rosa – +67.9%
- Salem – +63.4%
- Portland – +59.6%
- Boston – +58.1%
- Los Angeles – +58.0%
- Nashville – +56.5%
- Salt Lake City – +56.5%
Homeowners are living in their homes longer than ever before…an all-time high of 8.23 years. This tenure of 8.23 years is up from 7.97 years in Q2 2018 and up from 7.98 years in Q3 2013. Among the metros with the shortest tenures are Provo – Orem at 7.24 years, Austin at 7.24 years, Colorado Springs at 7.18 years, Denver at 7.17 years and Oklahoma City at 6.31 years.
Metros with the highest shares of distressed sales included
- Montgomery AL – 32.7%
- Atlantic City NJ – 32.2%
- Youngstown OH – 23.2%
- Columbus GA – 22.2%
- McAllen TX – 21.9%
Thanks to ATTOM Data Solutions and its Q3 2018 Home Sales Report for the data specifics.
