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Prices of for-sale homes are on the rise in several metro areas. According to Realtor.com, which tracks 146 metro markets, the following areas have seen their median list prices increase the most from March to April:
1. Minneapolis-St. Paul, Minn.-Wis.
Monthly median list price increase: 7.90 percent
Median list price: $199,500
2. Santa Barbara-Santa Maria-Lompoc, Calif.
Monthly median list price increase: 7.07 percent
Median list price: $545,000
3. Detroit
Monthly median list price increase: 4.66 percent
Median list price: $89,900
4. San Francisco
Monthly median list price increase: 4.62 percent
Median list price: $679,000
5. Seattle-Bellevue-Everett, Wash.
Monthly median list price increase: 4.46 percent
Median list price: $328,950
6. Boise City, Idaho
Monthly median list price increase: 4.40 percent
Median list price: $162,374
7. Trenton, N.J.
Monthly median list price increase: 4.26 percent
Median list price: $259,450
8. Boulder-Longmont, Colo.
Monthly median list price increase: 4.20 percent
Median list price: $375,000
9. Orange County, Calif.
Monthly median list price increase: 4.19 percent
Median list price: $448,000
10. Colorado Springs, Colo.
Monthly median list price increase: 4.09 percent
Median list price: $229,000
By Melissa Dittmann Tracey, REALTOR® Magazine Daily News
This seems like terrific news for Real Estate in general. I know it may be frustrating if you are a buyer...But the time has come to stop waiting for the bottom... It has come and gone in the markets listed above. I understand that the Chicago area has reached bottom as well.
Now is the time folks...I can hear it now..."If I had only bought that house when things were cheap." I don't think we will ever see prices this affordable at the same time interest rates are at record lows.
The Mountain Home, Arkansas market has stabilized. We rely on retirees moving into this area as a driving force. I believe that as we see these prices start to rise we will be in for a robust recovery here in the Mountain Home area.
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