Appreciation

Home prices rose 5.3% last quarter and nearly 20% year-over-year (YOY), according to Clear Capital’s October 2021 Home Data Index. Western states led price growth once again, with prices rising 24.3% YOY. Phoenix continued to dominate with a 57% price increase, though the report noted that “COVID-related noise” may have inflated that figure. However, significant increases were confirmed by a 31% rise in price-per-square-foot. Las Vegas price hikes were close behind, up 26%, followed by Portland, up 21%. The South followed up the West in appreciation, showing price growth of 20.5% YOY. Tampa topped its list at 31%, followed by Raleigh and Orlando, both experiencing 25% increases. The Northeast saw prices up by 16.7%. Providence and Hartford saw the largest…