Denver is Number 9 on the Highest Performing Major Metro Markets through November 2016

Denver real estate market update and news

Denver is still in the top 10 for best perfoming real estate markets in the Country through the month of November. 

 

 Highest Performing Major Metro Markets

Rank

 

Metropolitan Statistical Area

 

Qtr/Qtr% +/-

 

Yr/Yr

 

Distressed
Saturation

1

 

Portland, OR — Vancouver, WA — Beaverton, OR

 

1.9%

 

11.0%

 

6.1%

2

 

San Antonio, TX

 

1.8%

 

8.5%

 

1.5%

3

 

Tampa, FL — St. Petersburg, FL — Clearwater, FL

 

1.8%

 

14.3%

 

17.8%

4

 

Detroit, MI — Warren, MI — Livonia, MI

 

1.8%

 

7.8%

 

13.7%

5

 

Orlando, FL

 

1.6%

 

11.8%

 

15.3%

6

 

Sacramento, CA — Arden, CA — Roseville, CA

 

1.5%

 

9.9%

 

7.9%

7

 

Seattle, WA — Tacoma, WA — Bellevue, WA

 

1.5%

 

11.8%

 

6.6%

8

 

Miami, FL — Ft. Lauderdale, FL — Miami Beach, FL

 

1.5%

 

10.4%

 

16.0%

9

 

Denver, CO — Aurora, CO

 

1.4%

 

10.7%

 

5.2%

10

 

Riverside, CA — San Bernardino, CA — Ontario, CA

 

1.4%

 

8.5%

 

10.6%

11

 

Nashville, TN — Davidson, TN — Murfreesboro, TN

 

1.3%

 

9.7%

 

6.7%

12

 

Dallas, TX — Fort Worth, TX — Arlington, TX

 

1.3%

 

9.4%

 

2.2%

13

 

Milwaukee, WI — Waukesha, WI — West Allis, WI

 

1.3%

 

5.5%

 

15.2%

14

 

Las Vegas, NV — Paradise, NV

 

1.3%

 

9.9%

 

14.8%

15

 

Jacksonville, FL

 

1.2%

 

9.1%

 

17.6%

Chart 2. Highest Performing Major Metro Markets through November 2016. Source: Clear Capital®

“San Jose going negative over the last quarter is a huge deal, although no surprise given that growth in this market, and the Bay Area region as a whole, has greatly slowed over the last couple of years,” states Alex Villacorta, Ph.D., Vice President of Research and Analytics at Clear Capital. “Rapid price growth combined with lagging, sticky income levels quickly pushed home prices out of the affordable range for a majority of homebuyers, which is a key factor in this market’s recent downturn in performance. For this metro, turn times have slowed for both performing and distressed properties as demand has begun to slack, finally pulling the area into the red during this real estate slow season. While the San Jose market is the only major metro area in the nation reporting negative price growth, an increasingly likely interest rate hike by the Feds this month could just be the shock to the system that pulls other over heated markets even outside California and the West into the negatives, too. We’re keeping an eye on the situation in San Jose and markets nationwide as we begin to put together our 2017 housing market performance forecast.”

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