The US housing market
Housing market growth in the United States is holding steady with a rise of 0.6 per cent quarter on quarter, according to the latest real estate analysis report. The annual spring housing boom has been beneficial to most regions across the nation, with most markets outside of the Northeast seeing a small bump in quarter on quarter growth in the last month.
The data from real estate firm Clear Capital also shows that in the West quarterly growth has increased by 0.2 per cent to 1.3 per cent, while quarterly growth in the South and Midwest have increased to a modest 0.8 per cent and 0.3 per cent respectively.
However, growth figures in the Northeast are concerning with the firm’s models showing an average of zero price growth in the region over the last quarter. ‘This is especially alarming when considering that the spring season is a time when markets typically gain momentum leading into the busy summer season,’ said Alex Villacorta, vice president of research and analytics at Clear Capital.
He pointed out that while prices in the region as a whole have appeared to stagnate, there are markets in the region that are performing positively, such as New York and Hartford, where prices have increased by 0.5 per cent and 0.7 per cent respectively over the last quarter.