Hartford is one of the 10 lowest performing metropolitan areas in the nation when it comes to real estate appreciating in value. The value of local homes is increasing but falls well behind the national rate for real estate appreciation.
For August 2014, according to The Weiss Report, 39 percent of Hartford metropolitan homes increased in value. The region encompasses Hartford, West Hartford and East Hartford. That ranks the area seventh in the country for smallest percentage growth in appreciating properties. It’s an improvement from August 2014 when only 32 percent of homes in the market saw values increase.
“National median reports are showing that year over year prices moderating in August, a sign that the depreciation trends we have monitored at the hyper-local level since May are intensifying. Year over year appreciation rates are falling virtually everywhere, even in eight of the nation’s hottest markets,” said Allan Weiss, CEO of Weiss Residential Research.
Nationwide, the percent of homes gaining value increased slightly to 59.2 percent in August from 56.8 percent in July, but was still 11.5 percent lower than the appreciation rate in August 2014. Hickory, N.C., saw the lowest rate of appreciation with only 19.5 percent of its properties increasing in value. That was compared to 35 percent in August 2014.
