23 Cities Have 5-Yr Home Price Gains of 40%, Case-Shiller-20 Up 57% in 6 Yrs

-edited

Point2Homes notes 23 US cities had 40% or more home price appreciation in 5 yrs. I compare to Case-Shiller 20 metro area

Point2Homes notes 18 North American Cities Saw Home Prices Jump Over 50% in Just 5 Years

  • 18 of the 83 largest North American real estate markets saw home prices jump over 50% in just 5 years. Of the 18 markets with the most explosive growth, 11 are in the US, 6 in Canada, and 1 in Mexico.
  • Only 2 cities witnessed a drop in home price compared to 5 years ago, and both are located in Alberta, CA: Calgary and Edmonton.
  • San Francisco boasts the highest net increase of all the cities in the study ($550,000), followed by 2 Canadian cities: Vancouver ($417,913 CAD) and Surrey ($395, 287 CAD).

Top Ten North America Price Jumps

40% and Over Club USA

  1. Detroit, MI: 97% *
  2. San Francisco, CA: 69% *
  3. Seattle, WA: 66% *
  4. San Jose, CA: 58%
  5. Sacramento, CA: 56%
  6. Nashville, TN: 55%
  7. Bronx, NY: 54% **
  8. Columbus, OH: 53%
  9. Queens, NY: 52% **
  10. Brooklyn, NY: 52% **
  11. Fort Worth, TX: 52%
  12. Denver, CO: 50% *
  13. Las Vegas, NV: 48% *
  14. Milwaukee, WI: 48%
  15. Jacksonville, FL: 46%
  16. Portland, OR: 46% *
  17. Philadelphia, PA: 45%
  18. Boston, MA: 44% *
  19. Phoenix, AZ: 43% *
  20. Los Angeles, CA: 43% *
  21. Indianapolis, IN: 42% *
  22. Staten Island, NY: 41% **
  23. Charlotte, NC, 40% *

* Denotes member of Case-Shiller Top 20 Metro Areas by size, not price.

** Part of New York City which is in the Case-Shiller top 20.

12 cities in the above list (grouping the NY Burroughs as 1), are in the 40% or greater price appreciation group.

Case Shiller Top 20 Metro Areas

Atlanta, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, Portland, San Diego, San Francisco, Seattle, Tampa and Washington, D.C.

Case Shiller Top 20 Price Index

Methodology

Unlike Case-Shiller, Point2Homes factors in both new and existing home prices. Case-Shiller only looks at resales.

Sticker Shock

I will ask Point2Homes for an analysis of the Case-Shiller top 20 metro area from the March 2012 bottom to now, grouping NYC as a single entity.

Had ​Point2Homes gone back one more year, the price gains would have been even more incredible.

Mike "Mish" Shedlock

Comments
No. 1-11
mark0f0
mark0f0

That Toronto "data" is nonsense. As is Vancouver's.

Six000mileyear
Six000mileyear

At least one house in my desired neighborhood is still 20% below the price paid in 2008. It may have to do with the state being in the top 5 population decrease.

Casual_Observer
Casual_Observer

No story here. This part and parcel of the credit cycle. We no longer live in business cycles but in credit cycles. If credit contracts, there will be a big problem. The economy couldn't handle the threat of the Fed removing support and continuing to raise rates so they stopped. My guess is they don't hike and let things overheat. Trump will either be the hero or the goat come 2020. There were high hopes for the Fed when Powell was appointed. Now we know he shrank from the task and was read the riot act by someone. Extend and pretend.

bradw2k
bradw2k

One could guess from these charts that there has been an accumulation of high-paying jobs in certain cities -- both more of those jobs and higher salaries within them. Software devs start at $60K in Portland easily. That figure would be much higher in the Bay Area and Seattle.

AWC
AWC

Two steps forward, one step back. Must be a trend in here somewhere?

A short time ago, I asked my RE Broker about the "bubble" going on locally in NorCal (The real NorCal, not SF.) She responded "It's not a bubble, it's a market. It goes from buyers market to sellers market and back again." Succinct enough.