Mortgage

Despite winter storms, 29 markets hit peak

Homes.com: Huge yearly housing market price increases

Single-family properties in all 300 top U.S. markets witnessed year-over-year growth, according to the Homes.com December Local Market Index.

“Despite the holiday season and the early winter storms in most of the nation, the number of top 100 markets to reach or surpass their peak prices at the height of the boom in 2007 increased to 29 markets, according to December’s data,” said Brock MacLean, executive vice president of Homes.com.

"With the largest year-over-year housing market price increases in seven years, the U.S. housing market is in a great position to continue making steady gains in 2014,” MacLean continued.

Although the number of top 100 markets achieving a full recovery increased by one from the previous month to 29, there is also noticeable improvement in the number of midsize markets seeing full recovery.

The total markets with full recovery hit 89, up 30%, or two, from the previous month’s 87.

Furthermore, Los Angeles was the top-gaining market on a year-over-year basis, with a 27.48 index point or 16.74% increase.

Comparatively, Honolulu, Hawaii, is the number-two gaining market on a year-over-year basis, with a 26.21 index point gain for the top 100.

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