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Price Gains Slow in Most Large Markets
Friday, April 3, 2015
Another source is affirming that the rapid growth in home
prices that started in 2013 has continued to slow and that the deceleration is
broad based. RealtyTrac's February Home
Price Appreciation Analysis found that annual price increases have slowed from
a year ago in 60 of the 92 large metropolitan areas it tracks.
Many of the year-over-year changes were
huge. In Detroit appreciation slowed to
one-third its earlier pace, from 30 to 10 percent. Riverside-San Bernardino dropped from 24
percent to 7 percent, Boston from 16 percent to 3 percent, and in Chicago the
rate of increase dropped 10 percentage points to 6 percent. Increases in New York City, Los Angeles, and Miami
were down by at least 50 percent.
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