Midwest Home Prices Rising to the Top

TRUCKEE, CA—Home prices have been increasing nationwide, but the Midwest has lagged behind the West, the nation’s top performing region. But this could change in the coming year, according to a new forecast from Clear Capital, a Truckee, CA-based data provider. Company officials say that gains among low tier homes will lead the way as the region begins to outpace the rest of the nation, which should see declining gains overall.

The company today released its Home Data Index™ Market Report with data through December 2014. December data shows the low-tier segment, homes selling under $95,000, hanging on to double digit gains of 10.4% nationally. “But as we head into 2015, this may be the last we see of this magnitude of growth,” the company says. In fact, the low tier segment should grow at around 3%. However, the low tier in the Midwest could see growth of 7%, more than 5 percentage points ahead of the West at 1.7%.