Denver Top Market While Orlando, Miami Ranked Second and Third
According to recently released data by U.S. property portal Owners.com which ranked 25 Metropolitan Statistical Areas (MSAs) by annual home price changes, Denver enjoyed to largest price appreciation in the U.S. from August-September 2015 as compared with August-September 2014.
Mid-sized cities experienced some of the largest price increases in the country, while some larger markets, like New York, saw price reductions. The data revealed that Denver, CO showed a median three-bedroom single-family home price increase of 11.9 percent - the highest among the entire group. Orlando, FL and Miami, FL followed closely behind with increases of 11.6 percent and 11 percent, respectively. The New York metropolitan area - reaching across state lines into New Jersey and Pennsylvania - experienced a significant slump, with median prices of three-bedroom single-family homes dropping 6.7 percent.
"This data suggests that secondary markets such as Orlando and Denver have benefited greatly from the overall housing recovery with price gains significantly above larger markets," said Steve Udelson, President of the Owners.com business. "With the spring real estate season around the corner, consumers who are planning to be in the market next year will want to keep an eye on these markets to make savvy buying or selling decisions."