Some may say winter is coming, but where the mortgage industry is concerned, so is a competitive spring purchase season.

Though property values did steady at the end of the year, they're up on an annual basis and expected to rise again as buyers battle over a limited supply of housing stock. Despite this, favorable conditions in certain local markets still offer consumers better purchasing power odds.

While in cities like Cleveland "real" house prices shot up 20% year-over-year in December, other areas saw such growth only reach about 5%, according to a First American Financial Corp. analysis of home values, factoring in local wages and mortgage rates in large cities.

From New York to Seattle, here's a look at 12 cities with the best purchasing power odds for the upcoming spring market.

The data, from the First American Real House Price Index, measures annual home price changes, taking local wages and mortgage rates into account "to better reflect consumers' purchasing power and capture the true cost of housing."

The December 2018 data is ranked by smallest year-over-year changes in RHPI for cities where the current value is less than 100 (an RHPI reading of 100 is equal to housing conditions in January 2000).
Purchasing power

No. 12 New York, N.Y.

Year-over-year RHPI: 14.55%
RHPI: 93
Median sale price: $404,163
Aerial view of lower Manhattan New York City

No. 11 Minneapolis, Minn.

Year-over-year RHPI: 14.42%
RHPI: 94.85
Median sale price: $246,225

No. 10 Virginia Beach, Va.

Year-over-year RHPI: 13.97%
RHPI: 99.75
Median sale price: $205,900
The boardwalk and highrise hotels in Virginia Beach, Virginia.

No. 9 Raleigh, N.C.

Year-over-year RHPI: 12.64%
RHPI: 86.83
Median sale price: $242,625

No. 8 Pittsburgh, Pa.

Year-over-year RHPI: 11.55%
RHPI: 68.53
Median sale price: $140,725

No. 7 Baltimore, Md.

Year-over-year RHPI: 11.2%
RHPI: 86.93
Median sale price: $237,250
Baltimore, Maryland - July 24, 2013: Colorful early 19th century homes line Montgomerey Street in the Federal Hill Historic District

No. 6 Chicago, Ill.

Year-over-year RHPI: 11.2%
RHPI: 71.21
Median sale price: $212,190
View of the city of Chicago from Hancock Center

No. 5 Hartford, Conn.

Year-over-year RHPI: 11.16%
RHPI: 76.10
Median sale price: $210,500

No. 4 Washington, D.C.

Year-over-year RHPI: 10.80%
RHPI: 91.12
Median sale price: $370,227
Old Post Office Pavilion

No. 3 Oklahoma City, Okla.

Year-over-year RHPI: 10.44%
RHPI: 73.91
Median sale price: $149,000

No. 2 Boston, Mass.

Year-over-year RHPI: 9.29%
RHPI: 88.35
Median sale price: $438,286
BOSTON, MA, USA - JUNE 28, 2017: Aerial image of Fenway Park sports stadium home to the Boston Red Socks

No. 1 Seattle, Wash.

Year-over-year RHPI: 5.23%
RHPI: 93.33
Median sale price: $451,894
Seattle waterfront during the summer