Quarterly Home Price Gains Pegged at 1.4% in Late November

National quarterly housing price gains, tracked on a rolling monthly basis, were at a modest 1.4% at the end of November compared to 3.7% at the end of October and 6.3% in September, according to the Clear Capital Home Data Index Market Report. Meanwhile, at 14.1% Detroit surpassed all other U.S. markets including five-month leader Cleveland where quarterly price gains were 12.8%. Other micromarket analysis data show gains in markets like Atlanta where home price gains of 13.4% over the last two rolling quarters indicate this metropolitan statistical area may have bottomed out and is beginning to recover. Clear Capital analysts find sustainable stable price levels in a growing number of metropolitan statistical areas during the year "after the dramatic fall off in prices in the preceding three years" indicate signs of a price bottom and more hope for further market stabilization. Even returning "seasonal influences" and "a potential increase in REO saturation rates" are not expected to fade the price gain stabilizing effect, according to Clear Capital.