Home Prices Gain 9.3% in February 2013
The market might be coming up too fast for some buyers as a point of concern I have a few buyers that were a little slower moving and now that prices have came up its seems like it will be hard to find them a home. Plus you cant always just increase a persons price range. Overall its a positive to most people that prices are going up. It makes it possible for sellers to sell and seems to give most buyers an increased motivation to make a purchase.
Hopefully you all saw this morning’s news that home prices rose 9.3% in February which is the largest year over year gain since 2006 – that’s 7 years! Additionally home prices increased 1% month from January 2013 month over month. Read the latest Case Shiller report or here is a good summary from CNBC
Compare the Case Shiller results to the ActiveRain survey on Agent Confidence. ActiveRain is again leading the pack!
Implications from today’s Case Shiller report from the Wall Street Journal (link on image below):
- Prices set to rise further
- Prices rising fastest in cities with job growth or the cities with the largest declines during the housing crisis
- Home prices continued to increase in the winter of 2012/2013 despite general seasonal slowdowns.
It’s a GREAT time to be in real estate.
Make sure your customers understand that 2013 holds great promise for real estate and the market actually seems to be helping! (And they should get off the fence before home prices rise further).
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