When real estate occupies most of your
day (as it certainly does mine), you find yourself receiving no end of
information. Some summarize points of view that are available elsewhere; some
provide original information that isn’t particularly relevant to our local
market.
One piece that gets more than the usual
quick-scan-then-into-the-recycle-bin treatment is the HPI Data
Report. It comes in once each month from the demographers at
CoreLogic
®. This group knows what they are
talking about: among other things, they collect the most comprehensive property
database in the U.S.
Last week was relatively quiet on the news front, so
when they checked in, I was able to give their report a thorough going-over.
What I found:
Holy smoke!
Prices of homes for sale nationwide made the biggest year-over-year increase in
seven years!
Yikes!
Year-over-year, even including distressed sales, prices of homes for sale jumped
by an average 9.7% That’s just a whisker short of
double-digits!
Good golly!
Those homes for sale price jumps were taking place everywhere — in 49 out of the
51 states (the only exceptions were Illinois and Delaware).
One more exclamation! (I’ve run out): As if the trend direction isn’t already crystal clear,
this represents the 11th consecutive monthly increase.
As we prepare for our area’s spring selling season, it’s
noteworthy how much this year promises to be a notch up from even last year’s
—already a noticeable improvement.
If you have a property that is a good candidate to join
this spring’s complement of homes for sale,
now is a good time to give me a call. Rising prices mean that the buyers are out
there! You can reach me on my cell phone at 812-499-9234 or email Rolando@RolandoTrentini.com
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