SOURCE: Clear Capital

Clear Capital

August 23, 2017 13:50 ET

Motor City Comeback, Detroit Home Prices On The Rise

Only Midwest MSA in the Top 15 Performing Markets

RENO, NV--(Marketwired - August 23, 2017) - Today, Clear Capital released its monthly Home Data Index™ (HDI™) report, revealing quarter-over-quarter accelerated home price appreciation growth for Detroit, Michigan. Despite Detroit's gains, additional market data showed the Midwest continuing to trail the rest of the nation in price growth.

Market report data aggregated through August show accelerated growth for Detroit with quarter-over-quarter rates up from 0.9 percent to 1.3 percent. In addition, Detroit is the only MSA in the Midwest featured in the top 15 performing markets, according to current data.

Within the Midwest region, other MSAs are stalling or showing stagnant quarter-over-quarter growth. Four Ohio MSAs, Dayton, Cincinnati, Columbus and Cleveland, are among the slowest growing markets with quarter-over-quarter rates all at or below 0.2 percent. The Windy City, Chicago, growth continues to stall and is down from 1.3 percent to 1.1 percent since last month. Furthermore, Milwaukee's negative growth from last month, has increased slightly from -0.2 percent to 0.3 percent quarter-over-quarter growth.

"The real stand-out in this month's market report is Detroit," shared Clear Capital CEO and Co-Founder Duane Andrews. "Considering just four years prior, Detroit was the largest city in U.S. history to file for Chapter 9 Bankruptcy protection, and to see a bounce back across the city's quarter-over-quarter home price appreciation is both impressive and encouraging news for the industry and region."

The Clear Capital August HDI report features the top 15 appreciating and depreciating MSAs based on quarter-over-quarter and year-over-year data, as well as national performance based on four separate regions: West, Midwest, South and Northeast.

Clear Capital's 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.

To learn more, please download a copy of the Clear Capital August HDI report or visit www.clearcapital.com. To schedule an interview, please contact Director of Marketing Sarah Hartshorn at 775-800-6514.

About Clear Capital
Clear Capital (www.clearcapital.com) is the premium provider of data and solutions for residential and commercial real estate asset valuation and collateral risk assessment for large financial services companies. Their products include appraisals, broker price opinions, property condition inspections, value reconciliations, quality assurance services, home data indices and platform solutions. Clear Capital's combination of progressive technology, high caliber in-house staff and a well-trained network of more than 40,000 field experts sets a new standard for accurate, up-to-date and well documented valuation data and assessments. The company's customers include the largest U.S. banks, investment firms and other financial organizations.

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