Housing trends in the mid-sized US markets behave differently than housing trends in the major metropolitan areas. Markets like Pittsburgh never witnessed a huge bubble or burst during the housing run-up and crash. Because of the differences, Altos Research is now publishing a monthly 20-City Mid-Cities Report to capture and report those nuances.
The Mid-Cities Composite shows the same general trends in prices and inventory as the 20-City Composite (prices and inventory were up in both composites this month). Interestingly, the Mid-Cities Composite shows less volatility than the 20-City Composite over the past three years:
The peaks and valleys in prices and inventory are not as pronounced in the Mid-Cities Composite. For example, inventory in the Mid-Cities Composite is up 2.28% over the past three months, and inventory in the 20-City Composite is up 9.03% over the same time period. The differences are illustrated in the chart below.
The cities in the Mid-Cities Composite: Albuquerque, Austin, Baltimore, Boise, Boulder, Charleston, Dover, Durham, Jacksonville, Honolulu, Memphis, Naples, Nashville, Orlando, Pittsburgh, Reno, Sacramento, St. Louis, San Antonio, and Ventura County, CA. Visit Mid-Cities Report for your own copy, or send an email to firstname.lastname@example.org with “Mid-Cities Report” in the subject line.