Home Prices Climb Higher In Most Metro Areas

By
Real Estate Agent 276682

 

U.S. Home sales Market on the Rise

Single Family Home sales Starting Stabilize

 

 

Hernando County Home PricesAccording to the National Association of Realtors®, first quarter statistics again point to better home sales figures. This time it was the prices of single family homes that rose in half of the major cities in the United States. Because of the wide differences between regional and state conditions, these figures are never in 100% lockstep, but Hernando County homeowners should be encouraged by the report’s breadth: prices rose in more than twice as many cities as fell.

 

Of course, rising prices are always good news for homeowners in Spring Hill Florida who want to sell their homes; but beyond that, the effect of movement in that direction is welcome throughout the economy. Consumer confidence is strongly influenced when home sales prices stabilize (just as it is rocked when prices fall).

 

There are a multiple reasons for the upswing in prices for home sales:Agent Trust Reatly In Spring Hill Florida

 

Employment Rates Improve

Although unemployment rates are still relatively high, the U.S. Bureau of Labor reported that the overall rate fell to 8.1 percent in April. Even for those who are currently employed, the knowledge that more jobs are out there is encouraging. When the specter of prolonged joblessness recedes, financial confidence rises and home sales can be expected to follow.

 

Low Mortgage Rates

Mortgage rates are still at historical lows -- and the effect on affordability is dramatic. Currently the national 30-year fixed rate is at 3.78% according www.e-loanmortgage.com. As I have discussed before, although lenders have raised the requirements to quality for a loan, such low interest rates make a mortgage more affordable for eligible homebuyers.

 

Fewer Homes Available

Despite the inventory of foreclosed properties, fewer homes were available for sale this year than during the same period in 2011. Nearly always, home sales register higher prices when the housing market tightens – and that did seem to be happening in a growing number of metropolitan areas including Hernando County.

 

Higher prices for single family homes is a strong indicator of an improving economy: one that bodes well for everyone in the housing market.  Statistics do vary by neighborhood, so if you are considering selling your Spring Hill Florida home this summer and want up-to-date, personalized information, contact me for a market update and comparative market analysis for your Spring Hill Florida home.

 

 

 Tina Fingerman

 

 Professional Realtor

 

 Agent Trust Realty

 

 727-946-2348

Posted by

 

                                        Steve Fingerman, E Loans Home Mortgage

Steve Fingerman

President

NMLS #276682

E Loans Mortgage Inc

4117 Mariner Blvd

Spring Hill FL, 34609

Office 352-688-7949 Cell 727-946-0904

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Mortgages
Central Florida's Gulf Coast
Tags:
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Rainer
243,805
JOSH EVANS *JoshEvansHomes 516-655-5000
Village Properties of Mineola, LLC - Mineola, NY
Great blog and great job. Keep up the good work and good luck to you this year. Thanks.
Jun 02, 2012 01:15 AM #1
Rainer
63,319
Steve Fingerman
Spring Hill, FL

Thanks Josh, I appreciate the compliment. Good Luck To you as well :)

Jun 02, 2012 01:44 AM #2
Rainmaker
1,351,040
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Thinning inventory is a good sign...has to happen before we see serious price increases across the board. 

Jun 02, 2012 02:11 AM #3
Rainer
234,847
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Nice post - you are right that prices are increasing in most areas - would love to see more inventory come to market. All the best, Dave

Jun 02, 2012 02:39 AM #4
Rainer
63,319
Steve Fingerman
Spring Hill, FL

Thanks David, no doubt we have seen prices inch up in certain markets. Thinning inventory helps, it will be interesting to see what happens with the so called "shadow inventory" Either way the unfortunate flip side is that we are hearing a new common theme, and that is we need more inventory. It would be nice to see more traditional sellers re-entering the market.

Jun 04, 2012 06:20 AM #5
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Rainer
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Steve Fingerman

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