96
THE BIG FINISH
WRAP YOUR HEAD AROUND THE MARKET'S LEADING INDICATORS
WRAP YOUR HEAD AROUND THE MARKET'S LEADING INDICATORS
Rising home prices, mortgage rates, and less available inventory are causing homebuyers to miss out on getting the most bang for
their buck this house-hunting season. Although finding the right deal to purchase a home has become puzzling for homebuyers,
the combination of home prices and local wages are making some markets more appealing than others. First American's Real
House Price Index uses a weighted repeat-sales house price index that measures the price movements of single-family residential
properties by time and across geographies, adjusted for the influence of income and interest rate changes on consumer house-
buying power. Homebuyers must think about many aspects before considering which city and state to call home. Purchasing
power is in the hands of the buyer, if the homebuyer chooses a more affordable city to live in.
96
RANK CITY
1 CLEVELAND, OHIO
2 COLUMBUS, OHIO
3 MEMPHIS, TENNESSEE
4 CINCINNATI, OHIO
5 ST. LOUIS, MISSOURI
6 CHICAGO, ILLINOIS
7 PITTSBURGH, PENNSYLVANIA
8 CHARLOTTE, NORTH CAROLINA
9 HARTFORD, CONNECTICUT
10 ATLANTA, GEORGIA
47.04
9%
$123,525
54.22
9.61%
$160,000
56.4
13.86%
$151,950
58.92
5.99%
$135,000
65.05
11.87%
$143,773
65.08
11.59%
$227,000
65.47
4.03%
$145,000
69.4
17.38%
$205,000
69.79
3.67%
$191,400
70.61
REAL HOME PRICE INDEX YEAR-OVER-YEAR CHANGE MEDIAN SALES PRICE
13.14%
$196,500
SOURCE: FIRST AMERICAN APRIL 2017 REAL HOUSE PRICE INDEX
TOP 10 CITIES WITH GREATEST HOME PURCHASE POWER