October 23, 2019
Orlando Among High-Performing Metro Areas in Home Price Index Report and Forecast
When ClearCapital released its End of Q1 2019 Home Data Index™ (HDI™) Special Report back in April, the indications were that our service area of Orlando, Florida would be among the top 10 metro areas in terms of Home Price in the coming year (the Index projected through June). But by the time the Home Data Index Market Report and Forecast for September emerged, it turned out that Orlando—while still in the top 15—has come out at around number 13. That’s a good performance, of course, when compared to the rest of the nation.
After all, the September index suggests that national quarter-over-quarter home price growth is at 2.6 percent—a decline since August of 0.2 percent.
There are indications that the index has quirks in its forecast projections, though–going well beyond this minor shift in position for Orlando.
In the End of Q1 projection, among the lowest projected performing metro areas one could find Rochester, New York at position number 1. Its forecast growth was a mere 0.46 percent, with projected index growth amounting to -4.49 percent.
Fast -forward to September’s Report, and which metro area is sitting atop the list of high-performing metros, a hero photograph of its skyline featured front and center? Rochester, New York—with a reported 9.1 percent quarter-over-quarter growth, and forecasted quarter-over-quarter growth of 8.9 percent, and year-over-year growth of 2.9 percent. This top rank is perhaps even more surprising given that the Northeast overall, with its average growth of 2.9 percent quarter-over-quarter, is not the highest-performing region. That honor belongs to the Midwest, where the average is 3.5 percent quarter-over-quarter. The South (including Orlando) comes in third place, with 2.4 percent growth quarter-over-quarter, and the West comes in dead last, with 1.8 percent growth. (The latter market may be considered skewed, though, even despite its storied recent decline in housing prices, since it also includes Alaska and Hawaii in addition to the contiguous states.)
If you are looking to buy a home in Rhode Island, Massachusetts, or Florida, we at Topouzis & Associates, P.C. perform title searches to confirm (or refute) claims of deed and title, and to fix any defects if possible. We do things by the book, but think outside the box to ensure every element of the title conveyed is free and clear of any unanticipated problems.