Home Prices Improving in Major Metro Areas: Expect to experience repercussions

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Mortgage and Lending with Sun Pacific Mortgage and Real Estate DRE#01014873/NMLS#361315

Home Prices Improve in Major Metro Areas

Expect to experience repercussions

A month ago Trulia launched the Trulia Price Monitor and the Trulia Rent Monitor to be used as indicators of how asking prices and rent prices are trending nationally. And the results for April are in! In this Forbes article Trulia compared these trends to trends in the previous three months and found some excellent results.

In April “quarter-over-quarter price increases were found 92 of the 100 largest metros. Meanwhile, rents rose 5.6% nationally year over year.” During 2011 the housing market hit virtual bottom, which is brilliant for those of us selling homes in 2012 because housing prices are now on the rise. Asking prices were up 1.9% since last quarter. Prices have changed from sinking lower and lower to either remaining stable or gradually rising. This has remained true throughout the past eight months.

The areas that Trulia has decided to monitor closely are the major metropolitan areas over our nation. Their reasoning is if the city does well the surrounding areas will feel the repercussions of success.  Out of the 100 largest metro areas, 44 made the list of increased asking prices year-over-year. Why there may be increases can be attributed to job growth, housing demand and low mortgage rates.

Cross your fingers that these trends keep and real estate prices keep inching their way upward. If you haven’t considered it already, now is the time to invest in real estate! Here at Sun Pacific Mortgage and Real Estate we have so many borrowers who are need of funding to buy a home, we’re now in need of more Investors! Give us a call today (523-2099).

For the full article this blog was based on click this link.

 

Lynn Tardibuono – Flipper Chick- Real Estate Agent and Co-Owner of Sun Pacific Mortgage and Real Estate.  Serving Sonoma County since 1988.  Her number is (707)523-2099 and you can also visit our redesigned website at http://www.sunpacmortgage.com Also be sure to like us on facebook! Click this link! 

Comments (2)

David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Lynn,

With the low rates you lenders have to offer you would think you had to work 24/7 to keep up. It is beyond me why more renters aren't buying. I guess they would rather wait until rates are 7-8%.

May 04, 2012 08:55 AM
Lynn Tardibuono
Sun Pacific Mortgage and Real Estate - Santa Rosa, CA
Sun Pacific Mortgage and Real Estate

David,

I completely agree. The market is on it's way up and value can only increase. Now is the time to buy before it's too late! Rates and prices are too good to pass up. Thanks for reading!

May 08, 2012 03:31 AM