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Main Content

Home Prices on The Rise

By Judi Desiderio, Tuesday, July 03, 2012
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Town & Country Exclusive Market Reports have been mentioning that nearly all our markets are poised for an uptick for months now.

Finally, the media has caught up. They are usually behind the trend by 60-90 days…simply because they’re sitting in an office afar and not on the front line of fire.

The Standard & Poor’s/Case Shiller home price index released a few days ago showed an increase in 19 of the 20 cities tracked. This is the second monthly increase in prices in the major US cities. National home sale prices rose 1.3% in April from March this year.

The National Association of Realtors said in May, more Americans signed contracts to purchase previously owned homes in the fastest pace in two years!

The Wall Street Journal reports that sales on newly built homes climb to the highest level in two years, driven by limited supply of previously owned homes and record low mortgage rates.

Amazingly, the home sales market, for both new & previously owned homes, is significantly improving even with the banks holding on to money with a strangle hold. So, elementary economics teaches us when supply goes down and demand goes up…what happens people?

YEP, you can say it out loud—they already know—PRICES GO UP!

There’s never been a better time, don’t miss out on this newly emerging market…jump in, the water’s perfect!