Housing values ​​soar at the fastest pace since 2006



Bad news for potential buyers: the rapid appreciation of home values ​​shows no signs of recovery.

The average value of homes increased by 8.7% on national average from April 2017 to $ 215,600, according to a new real estate report Zillow website

ZG, + 3.36%

This represents the fastest rate of acceleration since June 2006, just before the onset of the housing crisis that triggered the Great Recession, when they rose by 9% annually.

the usual suspects were again at stake in April, according to Zillow. The supply of housing in many cities has remained tight, thanks in part to the slow pace of new construction. Meanwhile, demand is strong as millennials move away from rent and other Americans are more inclined to make a big purchase thanks to rising wages and recent tax cuts.

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"The value of homes is going up faster than we have seen in a long time", Zillow senior economist Aaron Terrazas said in the report. "The spring shopping season at home has been a perfect storm of strong demand and supply shortage."

San José, located in Silicon Valley, California, led the country in terms of appreciation of home values, with values ​​that increased 26% from last year. a median value of $ 1.26 million. Then it was Las Vegas with a 16.5% appreciation and Seattle with a 13.6% increase.

Metropolitan Area Initial Value Index Inter-annual variation Below the pre-crisis peak
United States $ 215,600 8.7% 0% [19659016] New York, NY $ 424,800 7.3% -6.2%
Los Angeles-Long Beach-Anaheim, California. $ 644,600 8.4% 0%
Chicago, Illinois $ 218,000 5.5% -14.2%
Dallas-Fort Worth, Texas $ 225,100 11.2% 0%
Philadelphia, Pa. $ 225,300 5.8% -5.1%
Houston, Texas $ 195,500 4.7% 0%
Washington, DC $ 398,900 4.5% -8.4%
Miami-Fort Lauderdale, Fla. $ 269,100 7.5% -13.6% [19659016] Atlanta, Ga. $ 200,600 10.6% 0%
Boston, Mbadachusetts $ 449,000 [19659014] 6.5% 0%
San Francisco, California $ 947,500 ] 11.4% 0%
Detroit, Michigan $ 151,600 8.9% -4.8%
Riverside, Calif. $ 355,700 9.2% -13.2%
Phoenix, Arizona $ 253,100 8.6% -10.9%
Seattle, Wash. $ 490,000 13.6% 0%
Minneapolis-St Paul, Minn. $ 258,700 7.8% 0%
San Diego, Calif. $ 585,600 8.4% 0%
St. Louis, Mo. $ 159,700 5.2% 0%
Tampa, Fla. $ 202,900 12.4% -9.2%
] Baltimore, Maryland $ 262,700 4.4% -12.0%
Denver, Colorado $ 399,200 8.8% 0%
Pittsburgh, Pa. $ 138,400 6.5% [19659014] 0%
Portland, Oregon. $ 389,100 6.2% 0%
Charlotte, NC $ 192,900 11.0% 0%
Sacramento, Calif. $ 398,300 7.8% -5.9%
San Antonio, Texas $ 182,800 5.7% 0.0%
Orlando, Fla. $ 223,700 [19659014] 10.1% -15.6%
Cincinnati, Ohio $ 157,200 5.1% 0%
Cleveland, Ohio $ 138,700 6.5% ] -3.5%
Kansas City, Mo. $ 177,800 8.5% 0.0%
Las Vegas, Nevada $ 260,800 16.5% – 17.7%
Columbus, Ohio $ 180,000 9.2% 0%
Indianapolis, Ind. $ 149,200 6.6% 0%
San Jose , California $ 1,263,900 [19659014] 26.2% 0%
Austin, Texas $ 293,100 5.3% 0%

Overall, 21 of the 35 largest markets of housing have now surpbaded the maximum median value previously established recession.

For tenants, the story is happier. Rents only increased 2.5% year after year, keeping the pace back in September. That is much better than a few years ago, when rental prices increased by almost 7% between 2014 and 2015.


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