Top Markets Approach Halfway Point in Price Recovery

Two more markets reached price peaks in May

NORFOLK, Va. (July 23, 2015) – Homes.com®, leading online real estate destination, has released its May 2015 Local Market Index, a price performance summary of repeat sales in the top 100 markets, and the companion Midsize Markets Report for the next 200 largest markets. Among the nation’s top 300 markets, 139 markets (46 percent) achieved full pricing recovery, two more than the 137 markets reported in April.

For the fifth month in a row, all markets in the top 100 increased their 3-month average index point change. San Francisco-Oakland-Hayward, CA had the largest 3-month average increase of 1.03 percent, while McAllen-Edinburg-Mission, TX had the smallest average 3-month increase with 0.04 percent. The 3-month average increase for all top 100 markets was 0.54 percent.

On an annual basis, all top 100 markets saw increases. Denver-Aurora-Lakewood, CO had the largest annual percent increase of 7.47 percent, while Albany-SchenectadyTroy, NY had the smallest annual percent increase of 2.13 percent. The average yearly increase for all top 100 markets was 4.52 percent.

Of the top 100 markets, those with minimal price declines have rebounded an average of 109 percent. The average rebound percentage of the moderate price decline markets is 101 percent of the prior peak price. Of the severe price decline markets, the average rebound percentage is 84 percent.

National Summary – West Lead the Rebound

Of the top-performing regions, the West again had the largest 3-month average of 1.03 percent, followed by the South at 1.02 percent. Of the bottom-performing regions, the South had the smallest 3-month average increase of 0.04 percent.

In May, 48 of the top 100 markets measured continued to show a complete price recovery — the same number as April.

“With the price appreciation and strong sales occurring over spring and summer, it’s just a matter of months before more than half of the top 300 largest markets in the nation reach or exceed their highest price peaks from eight years ago. Full price recovery is critical for homeowners seeking to restore their lost equity after the housing crash, as well as for the economic viability of their communities,” said David Mele, president of Homes.com.

Southern Markets Lead Recovery; Midwest Takes Top Spot in Largest Markets Recovery

The South continued to dominate recovery with 23 markets, while the Midwest came in second with 10 markets.

Denver-Aurora-Lakewood, CO was once again the top market with an annual percent change of 7.47 percent, while San Francisco-Oakland-Hayward, CA came in second at 7.37 percent. The West remained dominant in annual percentage gains with nine markets seeing yearly increases. Louisville/Jefferson County, KY-IN had an annual percentage increase of 7.35 percent. Three markets had at least a 7 percent increase yearly, and seven markets had an annual percentage increase of at least 6 percent. Five markets are from California — the most from a single state.

Largest Markets Summary:

  • Dallas-Fort Worth-Arlington, TX (115.17 percent rebound percentage), Austin-Round Rock, TX (113.15 percent) and Denver-Aurora-Lakewood, CO (113.04 percent) led the nation’s top 100 markets in rebound percentage in May.
  • Eight of the top ten leading rebound markets were located in the South.
  • The West was home to nine of the top ten markets achieving the greatest year-over-year price appreciation in May.

Two More Midsize Markets Rebounded in May

Duluth, MN-WI and Athens-Clarke County, GA were the newest midsize markets to rebound with rebound percentages of 100.16 percent and 100.05 percent, respectively.  Dayton, OH and Richmond, VA were close to rebounding at 99.94 percent and 99.51 percent. Additionally, 91 midsize markets now have more than a 100 percent rebound, two more than April.

In May, 194 midsize markets improved over a 3-month average, while five markets remained the same and one market decreased. The five southern markets not seeing a change were in Texas and Louisiana. The lone market that decreased on a 3-month average was Elizabethtown-Fort Knox, KY. However, Wheeling, WV-OH, which had previously declined over several months, increased at 3.89 percent annually. All midsize markets increased annually.

On a yearly basis, the West reported increases in nine of the top ten markets. The remaining market came from the South — Elizabethtown-Fort Knox, KY, which increased 7.27 percent despite the 3-month average decrease. Seven markets had at least a 7 percent increase, and three markets had at least a 6 percent increase. Colorado and Washington claimed the most top markets with three from each state. In May, the annual percent range was between 6 percent and 8 percent, similar to April.

For the second month in a row, the market with the best 3-month average in May was Grand Junction, CO, increasing by 1.15 percent. On a 3-month average, three of the top ten markets increased over 1 percent. The top ten 3-month average markets consisted of markets in the Northeast (2), Midwest (2), West (2) and South (4). The 3-month average percentage range was 0.95 percent to 1.15 percent, similar to April’s report of 0.97 percent to 1.28 percent.

Midsize Markets by Region and Division:

  • The top-performing region on a 3-month average was the West.
  • Wichita Falls, TX in the western region was the only market not seeing an increase or decrease for the 3-month average.
  • All top-performing regions increased at least 0.50% on a 3-month average.
  • The South was the only region to decrease.

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 and RE/MAX, LLC Expand Technology Agreement

Long Standing Relationship Passing 10 Year Milestone

Norfolk, Virginia (July 21, 2015) – Homes.com and RE/MAX, LLC (NYSE: RMAX) are renewing and expanding their long-standing technology and advertising agreement. RE/MAX has selected Homes.com to power the remax.com website and the RE/MAX suite of mobile applications through 2017, extending the relationship that began in 2005.

“We’re thrilled that RE/MAX has once again selected Homes.com to power the most important elements of their online marketing efforts,” said David Mele, president of Homes.com. “We offer RE/MAX and its Affiliates a unique approach, combining our innovative technology services with our vast consumer reach. Together, we are leveraging the audiences of Homes.com and Remax.com to build traffic and deliver leads from both websites efficiently and directly to RE/MAX sales associates.”

As part of their expanded agreement, RE/MAX and Homes.com will launch a co-branded edition of the Homes.com Connect lead management and marketing platform later this year in RE/MAX Company Owned regions, serving as an upgrade to the current RE/MAX LeadStreet system. Homes.com Connect will offer RE/MAX agents a robust contact and lead manager, listing management, email marketing system, third-party lead aggregation, social prospecting and more.

The agreement also includes launching a new, fully-responsive version of remax.com.  RE/MAX will utilize Homes.com’s in-house design team to create a fresh look for remax.com, a trusted consumer resource.

“For nearly a decade, RE/MAX Affiliates have had much success with the Homes.com platform through its quality lead generation and premier marketing techniques,” said Tim Drouillard, RE/MAX senior vice president, information technology. “We’re excited to continue our relationship and enhance the many marketing opportunities available from Homes.com.”

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. Homes.com is visited by more than 13 million consumers each month to search nearly four 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 www.Homes.com.

Home Values Rebound Achieves New High

Nearly half of top 300 markets achieve full pricing recovery

Norfolk, Va. – (June 23, 2015) – Homes.com®, leading online real estate destination, has released its April 2015 Local Market Index, a price performance summary of repeat sales in the top 100 markets, and the companion Midsize Markets Report for the next 200 largest markets. Among the nation’s top 300 markets, 137 markets (46 percent) have now achieved full pricing recovery in April, compared to 130 markets (43 percent) in March’s report.

All top 100 markets saw annual increases, and for the fourth month in a row, all markets increased their 3-month average index point change. The 3-month average increase range for the top markets was 0.85 percent to 1.19 percent.

Of the top 100 markets, the markets with minimal price declines have rebounded by an average of 108 percent. The average rebound percentage of the moderate price decline markets is at 101 percent of the prior peak price. Of the severe price decline markets, the average rebound percentage is 83 percent.

National Summary – Western Markets Post Largest 3-Month Average

Of the top performing regions, the West again had the largest 3-month average of 1.19 percent. The South had the smallest 3-month average increase at 0.24 percent. In April, all markets on the top performing and bottom performing list increased over a 3-month average for the fourth month in a row.
In April, 48 of the top 100 markets achieved a complete price recovery, up two markets from March. Among midsize markets, 89 are now more than 100 percent recovered, up five from March’s report.

Over a 3-month average, the top market again was San Francisco-Oakland-Hayward, CA which earned a 1.19 percent increase, followed by Denver-Aurora-Lakewood, CO with a 1.08 percent increase. The top ten large markets included six markets from the West, three from the Midwest and one from the Northeast.

“It’s exciting to watch the nation’s progress to full price recovery as it accelerates with strong year-over-year gains across the country. Nearly half of the nation’s 300 largest markets have reached their peak prices and the pace is accelerating. That’s great news for homeowners as they win back the equity that was lost during the housing depression,” said David Mele, president of Homes.com.

Southern Markets Lead Recovery while California Takes Top Spot in Largest Markets

The South continued to dominate the housing recovery with 23 markets, up by one from March. The Midwest came in second with ten markets, adding one new rebounded market, Milwaukee-Waukesha-West Allis, WI.

In April, Denver-Aurora-Lakewood, CO again achieved the top spot with an annual percent change of 7.3 percent, while San Francisco-Oakland-Hayward, CA came in second at 6.97 percent. The West remained dominant in annual percentage gains with eight markets seeing yearly increases. From the South, Miami-Fort Lauderdale-West Palm Beach, FL and New Orleans-Metairie, LA rounded out the top 10 with annual percentage increases of 6.11 percent and 6.1 percent, respectively. Only Denver-Aurora-Lakewood, CO achieved an increase of over 7 percent annually, while eight markets have an annual percentage increase of at least 6 percent. Stockton-Lodi, CA was the only market to increase below 6 percent. Although the number of top markets from California has diminished over the last few months, California still leads in top markets with four markets on the top annual list.

Largest Markets Summary:

● Milwaukee-Waukesha-West Allis, WI and Birmingham-Hoover, AL are the two latest markets to reach a full rebound at 100.44 percent and 100.24 percent.
● All top 100 markets saw annual increases. Denver-Aurora-Lakewood, CO had the largest increase at 7.3 percent, while Bridgeport-Stamford-Norwalk, CT had the smallest annual percent increase at 1.41 percent.
● San Francisco-Oakland-Hayward, CA had the largest 3-month average increase at 1.19 percent, while McAllen-Edinburg-Mission, TX had the smallest average 3-month increase at 0.24 percent.

Four More Midsize Markets Rebounded in April

A total of 89 midsize markets are now more than 100 percent recovered, up five from March’s report. Tupelo, MS; Niles-Benton Harbor, MI; Dothan, AL; Montgomery, AL; and Dalton, GA were the new midsize markets rebounding. Their rebound percentages were 100.45 percent, 100.42 percent, 100.27 percent, 100.11 percent and 100.08 percent, respectively.

Among the 200 midsize markets, the market with the best 3-month average was Grand Junction, CO which increased 1.28 percent. Nine of the top ten markets increased over 1 percent on a 3-month average, while Torrington, CT was the only market not to increase more than 1 percent. The top ten 3-month average markets consisted of markets in the Northeast (three), Midwest (two), West (three) and South (two). In April, the 3-month average percentage range was 0.97 percent to 1.28 percent, slightly lower than 1.15 percent to 1.32 percent in the prior month’s report.

On a yearly basis, the West claimed nine of the top ten markets that increased in April. Rapid City, SD is the top annual market among midsize markets with a 7.99 percent index point increase. Four markets had at least a 7 percent increase, while six markets had at least a 6 percent increase. Colorado represented the most top markets with three. In April, the annual percent range was between 6 percent and 8 percent, lower than March’s 6 percent to 9 percent.

In April’s Local Market Report, all midsize markets increased over a 3-month average, up two markets from March. Vineland-Bridgeton, NJ and Pottsville, PA were the two markets that decreased last month but bounced back with 3-month average increases of 0.57 percent and 0.47 percent. Some 199 markets increased annually, while Wheeling, WV-OH continued to decrease annually at a rate of 6.05 percent.

Midsize Markets by Region and Division:

• The top performing region on a 3-month average was the West, followed by the South.
• Of the top and bottom performing markets, all markets increased over a 3-month average.
To receive a comprehensive data file, including index values in every zip code within a local market, email 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.

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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