Home Prices Up for 12 Months

 

With more great statistics supporting the recovery of the real estate market, the National Association of REALTORS® reported yesterday that home sales have been up for 20 consecutive months, and home prices have been up for 12 consecutive months.

NAR's chief economist, Lawrence Yun, attributes the continued improvement to job growth in the economy, low inventory, and low mortgage rates (which continue to historically low, even with the large fluctuations in underlying markets). As a side note, rental prices are rising more slowly that home prices, but we can expect to see those rise accordingly as home prices rise.

Properties for sale rose from January to February, but is still almost 20% below last year's levels, and finding a home and getting an offer accepted still remains a difficult challenge for inexperienced agents and buyers. Extremely low housing inventory may be one of the largest driving factors in increased home prices.

Overall, this news continues to support our opinion that it is still a great time to buy real estate, so please let me know if you are interested in buying or selling!

Check out the full NAR article here: http://www.realtor.org/news-releases/2013/03/existing-home-sales-and-prices-continue-to-rise-in-february.

Realtor Name, REALTOR

If you, or someone you know is interested in buying or selling property, please call right away!

Gordon Kane, Broker

Gordon Kane, Broker
Broker/Realtor

Cell
619-980-4673

Office
619-818-3426

Fax
858-947-3564

Email

CA BRE 00598818

Diane Kane, Realtor/CRS

Diane Kane, Realtor/CRS
Realtor/CRS

Cell
619-818-3426

Office
619-818-3426

Fax
858-947-3564

Email

CA BRE 00992793

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