Markets & Economy

Detroit sees biggest annual home price gain, but its market hasn’t recovered yet

Pro Teck Valuation Services releases data measuring best and worst metros throughout US

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Takeaways: Detroit had the highest reported year-over-year price increase of 28 percent. Four CBSAs in the top 10 for July were in California and Washington each. Jacksonville, North Carolina; Jacksonville, Florida; and Rockford, Illinois, were reported in the bottom three CBSAs. Pro Teck Valuation Services recently released its Home Value Forecast for August, measuring the top and bottom markets throughout the country. Some mainstays -- like San Francisco -- topped the list, but the city that saw the highest year-over-year home value increases was Detroit. The Home Value Forecast reported that Detroit saw a 28 percent increase on an annual basis in August. Other cities topping the list of top five markets based on sold price included: San Francisco Merced, California Port St. Lucie, Florida Palm Bay, Florida All these markets saw a negative trend for their home sales. Taking a look deeper into the Detroit housing market, Pro Teck Valuation Services repor...