Home Prices Rise for 5th Month in a Row
Posted November 1st, 2012 | by The Update
Study shows continued gains in home price index.
CNNMoney— The housing market picked up more momentum in August, as the average home price for 20 major cities jumped 0.9%, according to the S&P/Case-Shiller home price index
The increase marked the fifth consecutive month of gains for the index with all but one city, Seattle, recording month-over-month price increases.
“The sustained good news in home prices over the past five months makes us optimistic for continued recovery in the housing market,” said David Blitzer, spokesman for S&P.
The Case-Shiller report is one of many gauges of housing market health that has turned upbeat in recent months. New and existing home sales have been stronger, inventory of homes for sale has fallen and developers have stepped up building activity.
Slow improvement in the national economy has also boosted the housing market, as have record low mortgage rates. The rates for a 30-year loan have stayed below 3.7% since May. Combined with home prices that are still about a third less than they were when they hit their peak, these record-low rates have made homebuying very affordable.
Click here to read the full article. Visit briggsfreeman.com for more expert real estate advice from top Realtors with Briggs Freeman Sotheby’s International Realty.
Subscribe to Update Dallas, like us on Facebook, and follow us on Twitter, LinkedIn, and Pinterest. Also see our sister sites Update Fort Worth and Oak, Oak Cliff!
Related Posts
Vibrant Southlake Ranks as Best Neighborhood in the Metroplex →
Live the Extraordinary at Museum Tower →
Chic & Simple Updates to Refresh Your Home This Summer →
