HousingIQ: Q2 2019 Housing Market Vitality Highlights
Housing market vitality at eight-year high.
Economic conditions support over 6% increase in house prices.
Steady uptick in number of markets with decreasing prices.
The US Housing Market Vitality Indicator (HMVI-US) closed Q2 2019 at an eight-year high reading of 106.6. The 0.32 point year-over-year increase and 0.39 point quarterly increase indicate prevailing house price trends will continue in the short term. Market strength was widespread with local economic conditions exerting a positive impact on 373 out of the 402 metro housing markets (93%) tracked by HousingIQ. Q2 2019 ended with house price changes in 131 metro markets (33%) forecasted to outperform the national market.
Q2 2019 closed with an eight-year high reading of 106.6 indicating economic conditions support 6.6% house price appreciation.
Q2 2019 continued longer-term trend of an increasing number of metros outperforming national market.
In Q2 2019, 7.2% of the metro markets are forecasted to suffer price deterioration. This matches levels last seen in summer 2013.