Markets & Economy

Home price growth slows in California metros

San Jose, San Francisco remain state's top-performing markets
  • California home growth has finally started to show signs of slowing down.
  • Markets like Detroit, Pittsburgh and Las Vegas are beginning to improve significantly.
  • San Jose is the only California metro that ranks in the top 10 for appreciation spanning the second and third quarters.

For nearly four years, price appreciation in California metros has kept the West afloat and led the nation in growth. But moving forward, these markets can not be trusted to pull the same weight; data suggest cooling appreciation across the state. Since the first quarter of 2015, five major California MSAs -- San Jose, Sacramento, Los Angeles, Riverside-San Bernardino and San Francisco -- have observed home price depreciation on a quarter-over-quarter basis, according to a market report from Clear Capital. San Jose is the only California metro that ranks in the top 10 for appreciation spanning the second and third quarters. San Jose's quarterly growth of 2.5 percent still led all major metros. Other top-performing metros during the third quarter included Detroit (2.1 percent), Las Vegas (2 percent), Atlanta (1.8 percent) and Miami (1.8 percent). Denver, Orlando and Jacksonville all saw 1.7 percent quarter-over-quarter appreciation. Portland, Dallas, Seattle, C...