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Owners Identifies Top Growth Markets for Home Prices

December 2, 2015

Data Reveals Double Digit Price Increases in Four Markets

LUXEMBOURG, December 2, 2015 – Owners.com, a top ten national brokerage and a leading marketplace for self-directed real estate, today released data that ranks 25 Metropolitan Statistical Areas (MSAs) by home price changes from August-September 2014 compared with August-September 2015.

 

Mid-sized cities experienced some of the largest price increases in the country, while some larger markets, like New York, saw price reductions. The data revealed that Denver, CO showed a median three-bedroom single-family home price increase of 11.9 percent – the highest among the entire group. Orlando, FL and Miami, FL followed closely behind with increases of 11.6 percent and 11 percent, respectively. The New York metropolitan area – reaching across state lines into New Jersey and Pennsylvania – experienced a significant slump, with median prices of three-bedroom single-family homes dropping 6.7 percent.

 

“This data suggests that secondary markets such as Orlando and Denver have benefited greatly from the overall housing recovery with price gains significantly above larger markets,” said Steve Udelson, President of the Owners.com® business. “With the spring real estate season around the corner, consumers who are planning to be in the market next year will want to keep an eye on these markets to make savvy buying or selling decisions.”

 

Owners.com Top 25 MSA Index Ranked by Single Family Home Price Change

Rank by Price Change

MSA Ranking by Single-Family Three-Bed Home Price Change (August-Sept. 2014 compared with August-Sept. 2015)

Change in Median Single-Family Three-Bed Home Price

 

September 2015 Transaction Volume

Change in Transaction Volume

1

Denver-Aurora-Lakewood CO

11.9%

5,896

27.8%

2

Orlando-Kissimmee-Sanford FL

11.6%

3,502

58.7%

3

Miami-Fort Lauderdale-West Palm Beach FL

11.0%

10,413

33.4%

4

Washington-Arlington-Alexandria DC-VA-MD-WV

10.1%

5,558

 

11.2%

5

Riverside-San Bernardino-Ontario CA

8.2%

5,811

24.6%

6

Boston-Cambridge-Newton MA-NH

8.1%

5,433

46.7%

7

Portland-Vancouver-Hillsboro OR-WA

7.2%

4,508

54.6%

8

Pittsburgh PA

7.1%

2,594

48.7%

9

Nashville-Davidson-Murfreesboro-Franklin TN

7.1%

4,512

56.1%

10

Tampa-St. Petersburg-Clearwater FL

7.0%

5,649

60.1%

11

Los Angeles-Long Beach-Anaheim CA

6.6%

10,794

29.4%

12

San Diego-Carlsbad CA

6.6%

3,615

40.4%

13

San Francisco-Oakland-Hayward CA

6.0%

4,436

18.5%

14

Charlotte-Concord-Gastonia NC-SC

5.6%

4,111

44.1%

15

Las Vegas-Henderson-Paradise NV

5.4%

3,760

51.4%

16

Jacksonville FL

5.3%

2,097

44.6%

17

Sacramento-Roseville-Arden-Arcade CA

5.2%

3,570

40.3%

18

Minneapolis-St. Paul-Bloomington MN-WI

4.8%

5,518

50.3%

19

Atlanta-Sandy Springs-Roswell GA

4.2%

8,362

47.1%

20

Detroit-Warren-Dearborn MI

4.0%

4,083

18.7%

21

Chicago-Naperville-Elgin IL-IN-WI

3.9%

10,096

36.2%

22

Seattle-Tacoma-Bellevue WA

3.4%

6,315

37.3%

23

Columbus OH

3.2%

2,645

16.3%

24

Philadelphia-Camden-Wilmington PA-NJ-DE-MD

2.2%

5,520

32.0%

25

New York-Newark-Jersey City NY-NJ-PA

-6.7%

11,566

8.8%

 

Methodology:  
The Top 25 ranking was produced using metropolitan statistical areas, a standardized definition for identifying city centers and immediate suburban areas. The list is comprised of the MSAs with the highest existing single-family home transaction volumes in September 2015 where price data and bedroom counts were available. Transaction volumes and three-bedroom single-family median home price data from August and September 2014 and 2015 were used to calculate the year-over-year changes. Only homes above $50,000 were included in the transaction volume data set. Data was provided by an Altisource business unit, RentRange®, a data provider to the financial services and real estate industries, using public record data sources from tax assessors and county clerk/recorders’ offices.
About Owners.com®

Owners.com is a top ten real estate brokerage that provides self-directed consumers with a full menu of real estate services from which to choose. Owners.com makes real estate transactions more affordable for consumers because they only pay for the services they need.  Founded in 1996, Owners.com has helped over 400,000 consumers sell and buy homes and save nearly $2 billion in selling expenses.  Owners.com is part of the Altisource Portfolio Solutions S.A. family of businesses.  Additional information is available at owners.com, facebook.com/ownerscom and twitter.com/ownersdotcom.

About RentRange®

RentRange is a premier provider of Rental Market Intelligence® to the financial services and real estate industries, delivering a wide assortment of address and geography level rental data, analytics, and rent based valuation solutions for single and multi-family properties. Its products include a combination of on-demand automated rent valuation reports and subscription based macro data available at the MSA, county, city and zip code levels. The company fills a longstanding void in the information services community by providing a standardized, reliable source for national residential rental data that is tremendously important for confident and effective decision making.

About Altisource®

Altisource Portfolio Solutions S.A. is a premier marketplace and transaction solutions provider for the real estate, mortgage and consumer-debt industries. Altisource’s proprietary business processes, vendor and electronic payment management software and behavioral science-based analytics improve outcomes for marketplace participants. Additional information is available at altisource.com.