U.S. home prices may be experiencing an overall chill, but in 10 "outlier" metro markets, home prices are heating up fast.
Based on listing data in the 300 biggest U.S. metros, Realtor.com's data team ranked the markets with the greatest change in price from September 2017 to September 2018, and named them the nation's newest boomtowns. Indianapolis, Ind. ranked 10th with 16.4 percent annual gains in home prices, while top-ranked Odessa, Texas had 34.4 percent growth in that time. The median list price in Odessa is $271,400, while in Indianapolis, it's $250,100.
The big news in the world of real estate: After years of home prices going up and up and up—rising well out of the reach of many eager wannabe buyers—the market has finally begun to soften. That's prompting sellers, prospective owners, and just about everyone else to wonder if they could even (gasp!) be heading down. But hold your horses! Just because the rate of price acceleration is starting to slow nationally, that doesn’t mean every market is pumping the brakes or moving in reverse.
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