Peak Prices Restored in 130 Large and Midsize Markets

43 percent of top 300 markets achieve full pricing recovery.

NORFOLK, Va. (May 27, 2015) – Homes.com®, leading online real estate destination, has released its March 2015 Local Market Index, a price performance summary of repeat sales in the top 100 markets, and the companion Midsize Markets Report for defined areas ranked 101-300.  Among the nation’s top 300 markets, 130 markets (43 percent) have now achieved full pricing recovery compared to 123 markets (41 percent) in February’s report.

All markets in the top performing list experienced increases greater than 1 percent, and all top 100 markets saw annual increases. For the third month in a row, all markets on the top-performing and bottom-performing lists increased for the 3-month average.

Of the 100 largest markets, those with minimal price declines rebounded by an average of 107 percent. For markets that experienced moderate price declines, the average rebound percentage was at 100 percent of the prior peak price. In severe price decline markets, the average rebound percentage was approximately 83 percent.

National Summary – Western Markets Rebounding Faster
The West had the largest 3-month average of 1.33 percent, while the Northeast had the smallest 3-month average increase of 0.06 percent.  Denver-Aurora-Lakewood, CO achieved the top annual spot with an annual percent increase of 7.35 percent, while New Orleans-Metairie, LA came in second at 7.11 percent. The West remained dominant in annual percentage gains, with eight markets seeing yearly increases.

“Rising prices are accelerating the nation’s return to peak prices in most markets, especially in the West where we see spring price increases leading the nation.  At the faster rebound rate, the U.S. will pass the halfway point by the end of summer when more than 50 percent of the top 300 markets will reach full price recovery,” said David Mele, president of Homes.com.

Southern Markets Lead Recovery in Largest Markets
While the West rebounded faster, the South dominated for price recovery in the nation’s largest 100 markets with 22 of 39 markets fully recovered. The West ranked second with eight markets out of 24 where prices now exceed peaks. Nine out of 20 have fully recovered in the Midwest, while only seven out of 17 rebounded in the Northeast.

Largest Markets Summary:

  •     Three new markets reached recovery in March: Columbus, OH (100.46 percent), Cincinnati, OH-KY-IN (100.35 percent), and Scranton-Wilkes Barre-Hazelton, PA (100.11 percent).
  •     The top performing month-to-month market was San Francisco-Oakland-Hayward, CA, with a 3-month average appreciation of 1.33 percent. Worst performing was Syracuse, NY with a 3-month average appreciation of only 0.06 percent.
  •     Las Vegas-Henderson-Paradise, NV had the lowest rebound rate among the nation’s 100 largest markets at 67.15 percent of its peak price.
  •     The second lowest large market was Stockton-Lodi, CA with a rebound rate of 69.13 percent.
  •     The South again led the nation with the most markets achieving 100 percent or more price recovery. The South had 22 recovered markets, followed by the West with eight, the Midwest with nine and the Northeast with seven.

Four More Midsize Markets Rebounded in March
The newest midsize markets to rebound were Charlottesville, VA (100.16 percent), Muskegon, MI (100.10 percent), Springfield, MO (100.09 percent), and Olympia-Tumwater, WA (100.04 percent).

The market with the best 3-month average was Grand Junction, CO, increasing 1.32 percent. All top midsize markets with a 3-month average increase over 1 percent were located in the West, with the exception of Saginaw, MI in the Midwest. Of the top midsize markets, two each were in California, Colorado, Washington and Arizona, while one market was in Michigan and one in Idaho. In March, the 3-month average percentage range was 1.15 percent to 1.32 percent, slightly lower than 1.21 percent to 1.49 percent in the February report.

On a yearly basis, the West claimed six out of ten midsize markets seeing increases. The remaining four markets came from the Midwest. Rapid City, SD remained the top annual market with a 9.11 percent index point increase, and was the only market to see an increase over 9 percent. Three markets had at least a 7 percent increase, while six markets had at least a 6 percent increase. In March, the annual percent range was between 6 percent and 9 percent, similar to February’s data.

In March’s Local Market Report, 198 midsize markets increased over a 3-month average, down two markets from the prior month. Vineland-Bridgeton, NJ and Pottsville, PA were the two markets that decreased their 3-month average. Some 199 markets increased annually while Wheeling, WV-OH continued to decrease annually at a rate of 6.86 percent.

Midsize Markets by Region and Division:

  •     The top performing region on a 3-month average was the West, followed by the Midwest.
  •     The Northeast was the only region to see a decrease in 3-month average.

To receive a comprehensive data file, including index values in every zip code within a local market, contact LocalMarketReports@Homes.com. To download a copy of the reports, visit press.homes.com.

About Homes.com
As one of the nation’s top online real estate destinations, Homes.com inspires consumers to dream big. From affordable houses to luxurious estates, condos, apartment rentals and more, Homes.com features more than 3 million property listings and exclusive distribution of over 20,000 apartment listings from ForRent.com in a user-friendly format, making finding your next home easy. Visitors to the Homes.com blog will find a collection of rich information and posts on DIY projects, painting, organization tips and more, providing the ultimate resource for everything home related. From finding your first apartment to buying your first home, upgrading, downsizing and everything in between, Homes.com is an inspiring and engaging partner in every phase of the home buying or renting process.

Visit Homes.com and download the Homes.com Mobile App, Rentals Mobile App, or Mortgage Calculator to assist in your home search. For home decor tips and more, visit Blog.Homes.com.

Homes.com Launches “Homes.com School Scores”

New feature helps homebuyers make better buying decisions

Norfolk, Va. – (May 21, 2015) – Homes.com®, leading online real estate destination, has created Homes.com School Scores, a ranking system to help buyers and sellers find and compare local school information. Since younger homebuyers consider school quality to be a key decision point, this new feature lets consumers make more informed decisions when searching for their next home.

Aligned with the Homes.com mandate of making the homebuying process easier, this newly released school ranking system helps consumers determine the caliber of schools in their search area. The Homes.com School Score is calculated from state test performance data of public schools and assigns a letter scale from A+ to D based on rank. To determine the ranking, state test scores for an individual public school are compared to other public schools in that state with the same education level.

“With young families and millennial homebuyers placing a higher value on homes located
near quality schools, Homes.com is focused on making their buying process easier by offering
useful tools and information to make better purchasing decisions,”
said Dave Mele, president
of Homes.com. “Homes.com’s School Scores give potential buyers a quick view of how local
schools compare to other schools in the same area.”

Homes.com School Scores are available for almost 3 million sale and rental properties. Start
your search at www.Homes.com.

About Homes.com

As one of the nation’s top online real estate destinations, Homes.com inspires consumers to
dream big. From affordable houses to luxurious estates, condos, apartment rentals and more,
Homes.com features close to 3 million property listings and exclusive distribution of over
20,000 apartment listings from ForRent.com in a userfriendly format, making finding your next home easy. Visitors to the Homes.com blog will find a collection of rich information and posts on DIY projects, painting, organization tips and more, providing the ultimate resource for everything home related. From finding your first apartment to buying your first home, upgrading, downsizing and everything in between, Homes.com is an inspiring and engaging partner in every phase of the home buying or renting process.

Visit Homes.com and download the Homes.com Mobile App, Rentals Mobile App, or Mortgage Calculator to assist in your home search. For home decor tips and more, visit Blog.Homes.com.

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Homes.com® Reports Show Recovery Continuing with South Taking the Lead

41 percent of top 300 markets have achieved full pricing recovery

NORFOLK, Va. (April 30, 2015) – Homes.com®, leading online real estate destination, has released its February 2015 Local Market Index, a price performance summary of repeat sales in the top 100 markets, and the companion Midsize Markets Report for defined areas ranked 101-300. Among the nation’s top 300 markets, a total of 123 markets, or 41 percent, have now achieved full pricing recovery compared to 91 markets (30 percent) in February 2014.

For the second month in a row, all of the nation’s 100 largest markets increased their 3-month average index point change in February. Jackson, MS had the largest 3-month average increase of 1.49 percent, while Deltona-Daytona Beach-Ormond Beach, FL had the smallest average 3-month increase of 0.16 percent. All 100 markets also increased prices on an annual basis.

43 of the top 100 markets in February continued to show complete price recovery, up one market from January. Youngstown-Warren-Boardman, OH-PA has rebounded at 100.14 percent. Additionally, 80 midsize markets have now fully recovered, an increase of two markets from January’s report. Grand Junction, CO and Hattiesburg, MS were the latest midsize markets to rebound, with rebound percentages of 100 percent and 100.81 percent respectively.

Largest Markets with Minimal and Moderate Declines Have Fully Rebounded

All of the top 100 markets that experienced either minimal price declines with a peak-to-trough decline of less than 10 percent or moderate price declines between 10-20 percent are now fully recovered. Markets with minimal price declines have achieved an average rebound percentage of 107 percent, and markets with moderate price declines are at 100 percent of the prior peak price. Severe price decline markets (with declines exceeding 20 percent) are seeing an average rebound of 82 percent.

“In February, price appreciation resumed in most markets across the nation, with three more markets joining the list of fully recovered markets,” said David Mele, president of Homes.com.  “Even more encouraging, all markets in the top 100 that suffered price declines of less than 20 percent have now reached complete price recovery. While the hardest hit markets still have lost equity to restore, millions of homeowners are closing the gap.”

Southern Markets Take the Lead in Largest Markets

The South dominated the price recovery in the nation’s largest 100 markets with 22 of 30 markets fully recovered. The West ranked second with eight markets recovered out of 24 where prices now exceed peaks.  Seven out of 20 have fully recovered in the Midwest, but the Northeast still has only six of 17 that have rebounded.

In February, the South had the largest 3-month average of 1.49 percent among the 100 largest markets. Of the bottom-performing regions, the Northeast had the smallest 3-month average increase of 0.22 percent. On a 3-month average, all markets in the top and bottom performing lists increased in February for the second month in a row.

Largest Markets Summary:

  • New Orleans-Metairie, LA topped the largest markets with an annual percentage increase of 6.91 percent; Boise City, ID came in second at 6.43 percent.
  • The West remains strong in annual percentage gains with seven markets out of the top ten reporting yearly increases. The three remaining markets are in the South: New Orleans-Metairie, LA; Jackson, MS and Miami-Fort Lauderdale-West Palm Beach, FL.
  • For the second month in a row, all 100 top markets increased their 3-month average index point change.
  • Jackson, MS had the largest 3-month average increase of 1.49 percent, while Deltona-Daytona Beach-Ormond Beach, FL had the smallest average 3-month increase of 0.16 percent.
  • In February, the South Atlantic region saw the smallest 3-month average increases.

Midsize Markets Summary:

Among the nation’s next largest 200 markets, the market with the best 3-month average was Hattiesburg, MS, increasing 1.49 percent. The top-performing midsize markets increased more than 1 percent over a 3-month average, and are located in the Southeast/South Central region.

In February, the 3-month average percentage ranged from 1.21 percent to 1.49 percent, slightly higher than 1.01 percent to 1.38 percent in the prior month’s report.

On a yearly basis, the West claimed six of the 10 markets reporting increases. The remaining markets came from the Midwest (3) and South (1). Rapid City, SD remained the top annual market with an 8.65 percent index point increase and was the only market to see an increase over 8 percent. In February, the annual percent range was between 6 percent and almost 9 percent and was slightly lower than in January.

All midsize markets increased over a 3-month average, an increase of one market from last month. Some 199 markets increased annually, while Wheeling, WV-OH was the only market to decrease.

Midsize Markets by Region and Division:

  • The top performing region was the South.
  • The West also performed well, with two markets in that region seeing increases over 1 percent.
  • The worst performing market again was Bangor, ME, located in the Northeast.

To receive a comprehensive data file, including index values in every zip code within a local market, contact LocalMarketReports@Homes.com.  To download a copy of reports, visit press.homes.com.

About Homes.com

As one of the nation’s top online real estate destinations, Homes.com inspires consumers to dream big. From affordable houses to luxurious estates, condos, apartment rentals and more, Homes.com features more than 3 million property listings and exclusive distribution of over 20,000 apartment listings from ForRent.com in a user-friendly format, making finding your next home easy. Visitors to the Homes.com blog will find a collection of rich information and posts on DIY projects, painting, organization tips and more, providing the ultimate resource for everything home related. From finding your first apartment to buying your first home, upgrading, downsizing and everything in between, Homes.com is an inspiring and engaging partner in every phase of the home buying or renting process.

Visit Homes.com and download the Homes.com Mobile App, Rentals Mobile App, or Mortgage Calculator to assist in your home search. For home decor tips and more, visit Blog.Homes.com.

Homes.com® Reports Show California Leads Price Recovery in January

Some 120 of the top 300 markets have achieved full pricing recovery

NORFOLK, Va. (March 30, 2015) – Homes.com®, leading online real estate destination, has released its January Local Market Index, a price performance summary of repeat sales in the top 100 markets, and the companion Midsize Markets Report for defined areas ranked 101-300. Among the nation’s top 100 largest markets, all markets increased their 3-month average index point change in January, up six markets from December 2014. The Midsize Markets also posted gains for the 3-month average in 199 of 200 markets.

40 percent of Top 300 Markets Fully Recovered
In January the top 100 and the Midsize Markets 200, which represent the largest 300 markets by population in the United States, reported that a total of 120 markets, or 40 percent of the top 300, have now achieved full pricing recovery. Compared to January 2014, only 89 markets, or 31 percent, had reached a complete rebound, up 35 percent year over year.

Of the top 100 markets, those with a peak-to-trough decline of less than 10 percent had an average rebound of 107 percent. Moderate price decline markets, those with a 10-20 percent decrease in value, are seeing the average rebound percentage reach 99 percent of the prior peak price. Severe price decline markets, price declines exceeding 20 percent, are seeing an average rebound of 81 percent.

In January, 42 of the top 100 markets measured continue to show complete price recovery, which is the same amount reported in December. Youngstown-Warren-OH/ Boardman, OH-PA and Columbus, OH are two markets close to rebounding at 99.54 percent and 99.31 percent, respectively.

Additionally, 78 Midsize Markets are now more than 100 percent recovered, a gain of three from December’s report. Decatur, AL; Macon, GA and Huntsville, AL are the new Midsize Markets to rebound and posted rebound percentages of 100.46 percent, 100.29 percent and 100.17 percent.

The South continues to dominate recovery with 22 markets seeing rebound percentages greater than 100 percent. The West came in at second place, seeing eight markets with over 100 percent rebound. The Midwest and Northeast are tied at six markets with a rebound percentage above 100 percent.

“Even in the slowest sales month of year, we’re continuing to see a steady march towards a full price recovery. The halfway point—50 percent of the top 300 markets—is in now in sight. In a matter of months, we hope see more than half the nation in rebound status. Even more importantly, we will see equity restored to millions of homeowners, making it possible for them to refinance or sell,” said David Mele, president of Homes.com.

Western Markets Take the Lead in Top 100
On a monthly basis, the five top performing markets were located in the West, all in the state of California. The top performing market is San Francisco-Oakland-Hayward, CA. Four markets are located in the South in the states of Mississippi, Florida, Georgia and South Carolina. The remaining market is located in the Midwest in the state of Ohio. The 3-month average percentage for the top 10 markets ranges from 0.87 percent to 1.01 percent, higher than the 0.67 percent to 0.89 percent seen in December’s data. The 3-month average percentage change for all top 100 markets continues to grow at 0.6 percent, which is more than the 0.39 percent recorded in December.

Largest Markets Summary:
San Francisco-Oakland-Hayward, CA led the West and the nation with an average 3-month appreciation of 1.01 percent.
Allentown-Bethlehem-Easton, PA-NJ led the Northeast with an average appreciation of 0.43 percent over three months.
Toledo, OH reported an average 3-month gain of 0.92 percent and led the Midwest.
Leading the South, Jackson, MS saw an average 3-month appreciation of 0.99 percent.
Hartford-West Hartford-East Hartford, CT trailed the nation with an average 3-month appreciation of only 0.04 percent,

Midsize Markets Summary:
The market with the best 3-month average was Kennewick-Richland, WA which increased 1.38 percent with all top 10 Midsize markets over a 3-month average seeing increases of more than 1%. Similar to the top 100 markets, all top 10 markets for the 3-month average are located in the South, West and Midwest regions. Four markets are from the South, specifically in the South Atlantic region. Four markets are from the West, located in the Pacific region and two markets are from the Midwest, located in Wisconsin. For January, the 3-month average percentage ranged from 1.01 percent to 1.38 percent, significantly higher than 0.89 percent to 1.02 percent in last month’s report.

The West also dominates with year over year increases in seven out of the top 10 markets. The remaining markets come from the Midwest and South. Rapid City, SD is again the top annual market with a 9.4 percent index point increase. In January, the annual percent range is between 6 percent and 9 percent, which is similar to December’s data.

In January’s Local Market Report, 199 midsize markets increased over a 3-month average, up four markets from last month. Bangor, ME is the only midsize market to decrease over a 3-month average and is located in the Northeast. Some 199 markets increased annually while Wheeling, WV-OH continues to be the only market to decrease.

Midsize Market by Region and Division:
The top performing Midsize Market for the 3-month average is Kennewick-Richland, WA, which is located in the West.
The bottom performing Midsize Market for the 3-month average is Bangor, ME, which is located in the Northeast and was the only market to see a decrease of the bottom performing markets.
Billings, MT reported the largest 3-month average change from the bottom performing markets.

To receive a comprehensive data file, including index values in every zip code within a local market, contact LocalMarketReports@Homes.com. To download all reports, visit press.homes.com.

About Homes.com
As one of the nation’s top online real estate destinations, Homes.com inspires consumers to dream big. From affordable houses to luxurious estates, condos, apartment rentals and more, Homes.com features more than 3 million property listings and exclusive distribution of over 20,000 apartment listings from ForRent.com in a user-friendly format, making finding your next home easy. Visitors to the Homes.com blog will find a collection of rich information and posts on DIY projects, painting, organization tips and more, providing the ultimate resource for everything home related. From finding your first apartment to buying your first home, upgrading, downsizing and everything in between, Homes.com is an inspiring and engaging partner in every phase of the home buying or renting process.

Visit Homes.com and download the Homes.com Mobile App, Rentals Mobile App, or Mortgage Calculator to assist in your home search. For home decor tips and more, visit Blog.Homes.com.

Greater Tulsa Association of Realtors Partners with Homes.com to Create Consumer Portal

Responsive design website gives Tulsa consumers ad-free home search

Norfolk, Va. (March 19, 2015) – Homes.com® and the Greater Tulsa Association of REALTORS® (GTAR) announced today the launch of a consumer website (TulsaRealtors.com) for the Greater Tulsa Association of REALTORS® (GTAR), as well as a Homes.com’s integrated marketing suite for all 3,600 GTAR subscribers.  GTAR members will now benefit from Homes.com’s extensive marketing features, connecting them to consumers visiting TulsaRealtors.com and the 12.5 million consumers who view Homes.com monthly.

The new TulsaRealtors.com was developed on Homes.com’s Homes Connect Fusion(™) responsive design platform, giving GTAR a comprehensive consumer website that features prominent, ad-free branding for the listing agent and brokerage.

“We’re excited to partner with Homes.com to provide a comprehensive, responsive design solution for our members and local consumers searching for their next home. Consumers can now seamlessly search using both desktop and mobile devices, and instantly connect with the listing agent or broker on a listing of interest,” said Mike Cotrill, CEO of GTAR. “Connecting consumers to REALTORS on TulsaRealtors.com without displaying competing banner advertising was a top priority, ensuring the conversation stayed focused on helping Tulsa consumers find their next home.”

GTAR member benefits of the Homes Connect platform include:

  •     Listing Leads – All leads from Homes.com and TulsaRealtor.com listings are sent to the listing agent.
  •     Agent and Broker Profiles – Complete contact and biographical information.
  •     Contact & Lead Manager – Manage contacts and leads in one central platform.
  •     Lead Gator – Aggregate leads from various sources into one central lead management system.
  •     Email Campaigns – Instantly set prospects into drip email campaigns.
  •     Social Prospecting – Aggregate contacts from Facebook, Google+, LinkedIn and Twitter.

The Homes Connect Fusion platform offers the following:

  •     Responsive Design – Access website from all desktop and mobile devices.
  •     Ad Free – Consumers can search without viewing ads.
  •     Lead Routing – All consumer inquiries sent directly to listing agents for faster follow-up.
  •     Agent/Office Search – Consumers can quickly find agents or offices of interest.
  •     MyHomeTracker – Consumers can save listings and receive updates on them, with saved listing details sent to the listing agent.
  •     Clear Attribution – Listing agent and brokerage are prominently branded on their listings with agent contact information.
  •     Neighborhood & Demographic Information – Integrated into the listing detail, allowing consumers to view important information about the area.
  •     MLS Website Control – Control panel allowing MLS staff to make site updates instantly.

“Partnering with GTAR to launch TulsaRealtors.com is another great example of Homes.com’s broader MLS partnership opportunities and our commitment to provide valuable services to the industry,” said Andy Woolley, vice president of industry development. “By leveraging Homes.com’s existing portal technology, enterprise partners are able to improve the quality of transaction-ready leads for their members while providing valuable marketing tools within one comprehensive platform.”

For more information on the benefits Homes.com can provide MLSs and their members, visit http://connect.homes.com/mls/.

About Homes.com

Homes.com is a leading provider of real estate marketing and media services, including brand advertising, property listing exposure and syndication, search engine marketing and instant response lead generation. Homes Connect by Homes.com offers the real estate industry’s first-ever, all-inclusive marketing platform for agents and brokers featuring single-login convenience. The new Homes.com Social offers innovative tools and resources to help real estate professionals save time and simplify social media marketing. More than 12 million consumers visit Homes.com each month to search nearly 3 million properties for sale or rent, to locate real estate agents in their area, and to find useful home buying tips. For more information, visit Homes.com.