House price growth unchanged in the US quarter on quarter in December

House price growth in the United States was unchanged in the fourth quarter of 2018, up just 0.9% on a national basis, the latest national real estate index shows.

Year on year prices were up 7.3%, also unchanged, according to the figures from real estate firm Clear Capital.

There was a rise of 1.1% quarter on quarter in the West where prices have been recording consistent rises, but even this market appears to be slowing. Within the region Las Vegas saw growth of 2.25%.

San Jose in California was among the five highest performing metros nationwide, and maintained 1.58% growth quarter on quarter but year on year it has fallen 0.42% to 14.97%.

Quarter on quarter prices increased by 1.24% in Honolulu, by 1.22% in San Francisco, by 1.19% in Oxnard, California, by 1.17% in Phoenix, by 0.67% in Seattle and in Portland and by 0.46% in San Diego.

The Northeast also showed signs of a market slowdown, maintaining 1% growth quarter on quarter with some metros seeing stronger gains. In Providence, Rhode Island, prices increased 1.49%, were up by 1.26% in Philadelphia, by 1.19% in New York, but by just 0.39% in Pittsburgh, and 0.21% in Harford, Connecticut.

Three metros in the South were among the 15 highest performing metros nationwide. In New Orleans prices increased quarter on quarter by 1.41%, in Jacksonville, Florida, by 1.29% and in San Antonio by 1.28%.

In the Midwest overall prices were up quarter on quarter by just 0.9%. But some areas bucked this trend with growth of 1.44% in Detroit, prices up 1.19% in Milwaukee, and up 1.15% in Columbus, Ohio.