3. Detroit
YOY Increase: 7.6%
Things sure aren’t pretty in Detriot, but prices are at least rising at a steady rate. They gained 7.6% year-over-year in September — the same gain posted the month before.
The month-over-month improvement slowed significantly, though, going from 2.5% in August to only 0.7% in September.
On top of that, while we mentioned that fourth-place San Francisco had many signs of a being the best market during that month, Detroit showed several signs of being the worst. More specifically, it was the worst area in terms of median list price, percent distressed and median per square foot. Prices might be going up, but that sure isn’t saying much.
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