America’s 10 Best Local Housing Markets

By Paul Ausick Updated Apr 27, 3:49PM EDT · Published Oct 28, 1:30PM EDT

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In 76 of the top 100 U.S. housing markets, home prices posted a gain, as measured by the Homes.com Local Market Index. The top gainer month-over-month was Louisville-Jefferson County, Ky.-Ind., while the highest annual gain was posted in the Las Vegas metro area, where prices rose 8.38%.

The month-over-month index looks at the monthly percentage change of the past three months’ moving average of index points. According to Homes.com, when comparing the average monthly percentage change in the index from the same period last year, the current percentage change is approximately half that of August 2013. This indicates that fewer home markets are experiencing positive monthly home price gains, according to Homes.com.

The top 10 highest three-month average gains occurred in the following metro areas:

Louisville-Jefferson County, Ky.-Ind., up 0.55%
Stockton-Lodi, Calif., up 0.47%
Springfield, Mass., up 0.40%
Deltona-Daytona Beach-Ormond Beach, Fla., up 0.39%
El Paso, Texas, up 0.38%
Austin-Round Rock, Texas, up 0.37%
Dallas-Fort Worth-Arlington, Texas, up 0.33%
New Haven-Milford, Conn., up 0.33%
Sacramento-Roseville-Arden-Arcade, Calif., up 0.31%
Greenville-Anderson-Mauldin, S.C., up 0.31%

The 10 metro areas with the largest year-over-year gains are:

Las Vegas-Henderson-Paradise, Nev., up 8.38%
Stockton-Lodi, up 7.47%
Miami-Fort Lauderdale-West Palm Beach, up 7.37%
New Orleans-Metairie, La., up 7.08%
San Francisco-Oakland-Hayward, Calif., up 6.91%
Portland-Vancouver-Hillsboro, Ore., up 6.89%
San Diego-Carlsbad, Calif., up 6.81%
Sacramento-Roseville-Arden-Arcade, Calif., up 6.79%
Los Angeles-Long Beach-Anaheim, Calif., up 6.64%
Provo-Orem, Utah, up 6.59%

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.