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CLEAR CAPITAL
REPORTS END-OF-YEAR
PRICE GROWTH
National home prices finished 2012
with a strong yearly gain, but prices fell
flat quarter-over-quarter in December,
according to Clear Capital.
Prices in December saw a 0.9 percent
quarterly increase, remaining mostly
unchanged from the 1 percent quarterly
improvement in November, the valuation
company reported. Year-over-year, though,
national home prices grew by 4.9 percent.
Clear Capital expects to see continued
growth into 2013, but estimates the increase
will be slower, at 2.1 percent.
Among the four regions, the West ended
the year with the strongest quarterly and
yearly increases at 2.1 percent and 11.8
percent, respectively. Both the South and
Midwest saw prices rise by 0.6 percent
quarter-over-quarter in December. In the
South, prices increased by 4 percent yearly,
and in the Midwest were up by 3 percent.
The Northeast saw the smallest quarterly
and yearly gains, 0.3 percent and 1.5
percent, respectively.
Dr. Alex Villacorta, director of research
and analytics at Clear Capital, says 2013
"should be interesting" for the housing
market. He contends national price gains
should continue to see upward growth but
at a more modest rate. "Keeping in mind our
current gains are off market lows at the start
of the year, 2013 gains will be measured
against a higher price floor after a full year of
recovery," Villacorta explained.
Clear Capital also offered a 2013 forecast
for the nation's top 50 markets. The data
provider says it expects Seattle to experience
the greatest gains, at 13.5 percent.
Birmingham, Alabama, was ranked
second and is forecast to see 10 percent
growth. California metros Bakersfield and
Fresno took the third and fourth spots and
are expected to grow by 7.9 percent and
7.6 percent, respectively. Minneapolis is
forecast to see 7.3 percent growth and was
ranked No. 5.
Out of all 50 markets, Clear Capital
anticipates only eight will see price
decreases this year.
KNOW THIS
Rents for new leases rose 3%
in 2012 after climbing 4.8% in
2011, according to rental software
provider RealPage.
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