Home Prices Up … Sort Of - Short Sale Fundamentals
 
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08
Jul

Home Prices Up … Sort Of

Rising Home PricesWell, folks, seems prices kept on rising right through June. Clear Capital reports that because of the left-over effects of tax credit prices are up 8.8% over last June.

Then I see a quote from a whole bunch of people who are cheering and partying about how awesome everything is. Till they wake up and see how shaky the ground actually is.

For one thing, prices haven’t actually changed much in the last 6 months. Oh, and unemployment is still dangerously high. And REO saturation threatens to invade the market.

But the Midwest still reported the highest quarterly price gains while the rest of the country was about 4% behind. And this takes into account how crazy and volatile winter buying was this year.

Though I’d like to caution you that most of the upswing was really pushed along by the top 15 cities. So a few large locations can kind of tilt the scales.

Now I’m sure some of us cashed in this past spring and made some killer deals. But that doesn’t mean that you can take the summer off! And those of you who missed the opportunities the tax credit presented shouldn’t let the summer months intimidate you. Prices are moving up and there’s time now to make some serious cash.

Get moving already! Make some sales and make me proud.

  • Pingback: Home Prices Jump 8.8% In June | Real Estate Investing News Watch Blog Aggregator

  • Diane Worden

    How confusing! If I listen to 10 different people, I get at least 7 different views and all claim to have the inside information. I think in some areas the prices did go up a bit, but in other places the prices are still declining, and from what I have been studying, with all the shadow inventory to still be released, unless some really good programs come out, we are a few years from out of the woods.

  • Stellap

    I enjoyed reading your comment but I don't feel that the prices of the houses in my area (Southern Connecticut) are going up. On the contrary, I see them going down.



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