Nationally home prices beat projections for 2016! CA didn’t quite hit the mark but came in at a healthy 5.5%. Not to hot and not to cold, makes for a very strong housing market here in the Eureka State!
CoreLogic’s latest Home Price Index shows that prices rose by 7.1% across the United States year-over-year.
With mortgage interest rates rising in the short term, CoreLogic believes price appreciation will slow to 4.7% by this time next year.
49 out of 50 states, and the District of Columbia, all had positive appreciation over the last 12 months, with the only exception being the state of Connecticut, which experienced a -0.5% appreciation.
Some Highlights: The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report. First-time homebuyers made up 31% of all sales in August. Homes are selling quickly with 51% of homes on the market for less than a month. A limited supply continues to drive up prices for the 66th consecutive month.
There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has been defined as an “overwhelming lack of supply,” and even a “straight up inventory crisis.” First American just released the results of a survey which sheds light on the reasons for the […]
Recently released data from Fannie Mae’s National Housing Survey revealed that rising home prices were the catalyst behind an eight-point jump in the net percentage of respondents who say now is a good time to sell. The index is now 21 points higher than it was this time last year. Overall, 62% of Americans surveyed […]