RealtyTrac’s home price survey for October breaks out into some compelling data on the major metros.

Home prices are reaching toward pre-recession levels, but they’re not there yet overall and they’re starting to slow.

Still some markets are doing better than others. Here’s how it breaks down, according to the analysts with RealtyTrac.

Among metro areas with a population of 500,000 or more and sufficient home price data, those with the biggest annual increase in median sales price were Toledo, Ohio (up 33%), Detroit (up 27%), Cleveland (up 21%), McAllen-Edinburg-Mission, Texas (up 21%), and Dayton, Ohio (up 20%).

Other major markets with double-digit appreciation compared to a year ago included Memphis, Tenn. (up 18%), Austin, Texas (up 17%), Miami (up 16%), Houston (up 16%), Cincinnati (up 15%), and Chicago (up 15%).

“While price appreciation has leveled off month to month, home prices have increased significantly from a year ago and we expect this trend to continue,” said Craig King, COO of Chase International, covering the Lake Tahoe and Reno, Nev., markets.  The median sales price in Reno was unchanged from September to October but up 15% from a year ago — the 29th consecutive month with a year-over-year increase in the market.

“A number of things have lined up regionally to provide game changing growth as we look forward,” King said. “The world is aware that Tesla is making a move in to Northern Nevada with their Gigafactory, but there are other huge projects on tap as well.  Collectively, these projects could account for population gains of 20 to 25% in the region over the next four to five years. With limited inventory the demand for housing will be unprecedented.”

Home price appreciation accelerated in 45 of the 97 (46%) metro areas nationwide with a population of half a million or more and with sufficient home price data.

Other major markets with accelerating home price appreciation were Chicago (15% annual appreciation this year compared to 11% a year ago), Dallas (11% annual appreciation this year compared to 7% a year ago), Pittsburgh (8% annual appreciation compared to 5% a year ago), Seattle (10% annual appreciation this year compared to 7% a year ago), Tampa (15% annual appreciation this year compared to 12% a year ago) and  Baltimore (2% annual appreciation this year compared to 0% a year ago).

“The continued rise in Seattle median home prices is largely a result of a strong local economy, low housing supply, and high buyer demand,” said OB Jacobi, president of Windermere Real Estate, covering the Seattle market. The percentage of distressed home sales in Seattle has returned to pre-mortgage crisis levels, with activity being driven by the hardships that have always instigated short sales, such as job loss, divorce, illness, and job relocation. Most of the distressed properties have shifted into the outlying areas around Seattle and are selling for well under the median home price. 

Top 12 Markets with Fastest Accelerating Home Price Appreciation

Market

October 2014 Median Sales Price

Oct 2014 Annual HPA

Oct 2013 Annual HPA

McAllen-Edinburg-Mission, TX

$151,000

21%

-6%

Dayton, OH

$100,000

20%

-1%

Cincinnati-Middletown, OH-KY-IN

$127,000

15%

-4%

Cleveland-Elyria-Mentor, OH

$114,900

21%

2%

Akron, OH

$114,000

17%

-2%

Toledo, OH

$100,000

33%

15%

Tulsa, OK

$135,000

11%

-5%

Lancaster, PA

$169,900

11%

-5%

Honolulu, HI

$480,000

10%

-4%

Nashville-Davidson--Murfreesboro--Franklin, TN

$170,000

13%

1%

Charlotte-Gastonia-Concord, NC-SC

$164,000

10%

-1%

Columbus, OH

$147,000

14%

3%

Meanwhile, on the south end of the scale, home price appreciation slowed compared to a year ago in 52 of the 97 (54%) metro areas nationwide with a population of half a million or more and with sufficient home price data.

Last Year's Highest Home Price Appreciation Markets Losing Steam

Market

October 2014 Median Sales Price

Oct 2014 Annual HPA

Oct 2013 Annual HPA

Detroit-Warren-Livonia, MI

$130,000

27%

38%

San Francisco-Oakland-Fremont, CA

$625,000

12%

34%

Sacramento--Arden-Arcade--Roseville, CA

$285,000

10%

30%

Modesto, CA

$215,000

16%

28%

Stockton, CA

$245,000

20%

27%

Riverside-San Bernardino-Ontario, CA

$250,000

10%

27%

Houston-Sugar Land-Baytown, TX

$219,900

16%

27%

Atlanta-Sandy Springs-Marietta, GA

$155,000

13%

25%

Phoenix-Mesa-Scottsdale, AZ

$185,000

6%

25%

Los Angeles-Long Beach-Santa Ana, CA

$492,000

9%

24%

Oxnard-Thousand Oaks-Ventura, CA

$480,000

7%

24%

Bakersfield, CA

$170,000

12%

24%

Boise City-Nampa, ID

$185,000

0%

23%

Jacksonville, FL

$130,000

4%

23%

San Jose-Sunnyvale-Santa Clara, CA

$692,000

11%

23%

Orlando-Kissimmee, FL

$149,900

11%

22%

Boston-Cambridge-Quincy, MA-NH

$300,000

3%

21%

Cape Coral-Fort Myers, FL

$145,000

12%

20%

Miami-Fort Lauderdale-Pompano Beach, FL

$180,000

16%

20%

San Diego-Carlsbad-San Marcos, CA

$440,000

8%

19%

Las Vegas-Paradise, NV

$171,600

11%

19%

Other major markets with decelerating home price appreciation in October were New York (1% annual appreciation this year compared to 4% a year ago), Philadelphia (4% annual depreciation this  year compared to 5% annual appreciation a year ago), Houston (16% annual appreciation this year compared to 27% a year ago), Miami (16% annual appreciation this year compared to 20% a year ago), Atlanta (13% annual appreciation this year compared to 25% a year ago), and San Francisco (12% annual appreciation this year compared to 34% a year ago).

As for distressed and short sales, the picture was different, and concentrated in the Sunbelt and sand states.

Short sales and distressed sales — in foreclosure or bank-owned — combined accounted for 13.8% of all residential property sales in October, up slightly from 13.7% the previous month, but down from 14.7% in October 2013.

Markets with the highest percentage of distressed and short sales combined were Las Vegas (33.6%), Stockton, Calif., (33.6%), Modesto, Calif., (31.7%), Lakeland, Fla., (28.9%), and Orlando (28.4%).

Short sales accounted for 5.0% of all residential property sales in October, unchanged from the previous month and a year ago and not far above the pre-recession average of 4.5% a month in 2006.

Markets with the highest percentage of short sales were in Orlando (14.2%), Lakeland, Fla., (13.0%), Palm bay-Melbourne-Titusville, Fla., (11.8%), Cape Coral-Fort Myers, Fla., (11.8%), and Las Vegas (11.5%).

 Twelve states saw an increase in short sales share compared to a year ago, including New Jersey (7.1% compared to 4.6% a year ago), Illinois (9.9% compared to 6.6% a year ago), Maryland (9.3% compared to 7.2% a year ago), Ohio (5.4% compared to 4.7% a year ago), Nevada (10.8% compared to 9.8% a year ago), California (4.6% compared to 4.3% a year ago), Michigan (6.5% compared to 6.2% a year ago) and Arizona (5.8% compared to 5.6% a year ago).

Foreclosure auction sales share increases most in Midwest, Rust Belt cities

Sales at the public foreclosure auction accounted for 1.3% of all U.S. residential property sales in October, up from 1.2% in September and up from 0.7% in October 2013.

Markets with the highest%age of sales at foreclosure auction were Lakeland, Fla. (5.4%), Orlando (4.2%), Palm Bay-Melbourne-Titusville (4.1%), Miami (4.1%), Tampa (4.0%) and Las Vegas (3.5%).

Markets with the biggest annual increases in share of foreclosure auctions were Des Moines (1.9% compared to 0.1% a year ago), Akron, Ohio (2.1% compared to 0.1% a year ago), Philadelphia (1.9% compared to 0.1% a year ago), Chattanooga, Tenn., (1.3% compared to 0.1% a year ago), and Fresno, Calif., (0.9% compared to 0.1% a year ago).