Jason Bernabei, TriCastle Realty
DEL MAR – October 8, 2012: Gooooood Monday morning Saaan Diegggo!!! Autumn weather is here at last! Seemingly endless summer has passed, and I’m of the mind that my next paddle out will be with a spring suit on! As for Housing, well, there has been an abundance of on-goings and headlines of late, and more and more we’re hearing about, and seeing home values start to go in an upward direction. Not always, not everywhere, but it’s happening, in pockets of the country, and here in San Diego County.
After a steady decline in value much of the past half-decade-plus, home values slowly stabilized into the summer months of 2011. By autmum of last year, values appeared to have hit rock-bottom, with an impending “stagnancy” forecasted by many experts. Today, nearly 5 ½ years after the April 2007 housing market peak, home prices are indeed rebounding. There are a number of widely reputable sources and statistics evidencing the trend.
In August of 2011, Existing Home Sales are up 9.3% nationally, and New Home Sales are up 27.7% nationally. At the same time, home inventories have slipped to multi-year lows throughout the nation. Additionally, multiple home value trackers show home prices rising both regionally and nationwide.
As I wrote about last week, the Federal Housing Finance Agency (FHFA) released its Home Price Index (HPI), which detailed property values to be up by almost 3.8% nationally! All good stuff! And there's more.
The S&P Case-Shiller Index (CSI) has shown home values heading upward as well.
The HPI’s 20-city composite reveals a 1.2% uptick. While 20 cities is indicative of a small segment of the U.S. population overall, it is a positive indicator from a source that the industry has traditionally put a lot of stock in.
As always, if you have any questions on rael estate, mortgages, Housing in general, feel free to contact me, Jason Bernabei, CEO/Realtorr®,TriCastle Realty, for more information! Stay tuned to Monday Morning Market Watch each and every Monday for up-to-date info. on the Housing industry. Until next time San Diego, enjoy Indian Summer at last!
Jay’s Outlook: sunny
Jason Bernabei, TriCastle Realty
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