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6 | Th e M Rep o RT The Pulse The Tale of the Tortoise and the Hare home prices took off in an investor-buyer led dash that left the industry winded at the end of 2013. Now, as the year gets under way analysts are finding that home prices are going to crawl through in some markets, and zip past in other markets. T he biggest story in 2013 was the quick rise of home prices in nearly all of the major metropolitan statistical areas. The sharp uptick of home prices single-handedly drove the recovery to stable shores, but had the pace continued, would have spun any possibility of long- term recovery out of control. Now, the market is heading to calibration, according to Clear Capital analysts, where some markets will continue to race towards stability while others will take the slow and steady approach. Recent data from the California- based research firm intimates that the hares of the market should see growth of around 2.4 percent, a fraction of the 14.6 percent growth last year. Meanwhile, the tortoises will catch up and keep pace with an anticipated trajectory of 2.6 percent. The research anticipates that Phoenix, Arizona will see considerable slowdown with growth moderating at 1 percent, while the Denver market will heat up with 4.9 percent in 2014. Most notably, non-investors will enter the market, creating more of a buy and hold environment. What will keep that bubble from popping? Deals with prices below their peak, moderating home prices, and low interest rates, according to the research firm. Top 10 Markets Rank City annual Change 1 Chicago, Illinois 15.1% 2 Atlanta, Georgia 12.3% 3 San Francisco, California 27.3% 4 Fresno, California 18.4% 5 Tampa, Florida 13.2% 6 Charlotte, North Carolina 10.1% 7 San Jose, California 22.1% 8 Denver, Colorado 12.4% 9 St. Louis, Missouri 9.9% 10 Nashville, Tennessee 10.3% Bottom 10 Markets Rank City annual Change 41 Raleigh, North Carolina 4.8% 42 Dayton, Ohio 5.8% 43 New York, New York 8.1% 44 Birmingham, Alabama 2.7% 45 Providence, Rhode Island 15.1% 46 Pittsburgh, Pennsylvania -7.6% 47 Virginia Beach, Virginia 6% 48 Hartford, Connecticut 6.8% 49 Seattle, Washington 15.3% 50 Richmond, Virginia 8.3% Source: Clear Capital