Home prices increased in November, with national home prices up 0.70 percent month-to-month and 6.20 percent higher year-over year. Case-Shiller's 20-City Home Price Index rose by 0.70 percent in the three-month period ending in November; nationally, home prices grew 6.20 percent year-over-year. Seattle, Washington held first place in home price growth with a year-over-year increase of 12.70 percent. Las Vegas, Nevada home prices followed with year-over-year home price growth of 10.60 percent. San Francisco, California home prices grew by 9.10 percent year-over-year. Slim supplies of homes for … [Read more...]
Case-Shiller Index Shows Near 6% Home Price Gain
Home prices continue their upward climb. Last week, the S&P/Case-Shiller Index showed home prices gaining 5.5 percent during the 12-month period ending November 2012, marking the largest one-year gain in home prices since May 2010. The Case-Shiller Index measures changes in home prices by tracking same-home sales throughout 20 housing markets nationwide; and the change in sales price from sale-to-sale. Detached, single-family residences are used in the Case-Shiller Index methodology and data is for closed purchase transactions only. Between November 2011 and November 2012, home … [Read more...]
Case-Shiller Index Verifies Home Value Gains Through Q3 2012
The housing market continues to expand. According to the S&P/Case-Shiller Index, which was released earlier this week, U.S. home prices rose in September for the sixth straight month, climbing 0.3% as compared to the month prior. On an annual basis, values are higher by 3.0%. The Case-Shiller Index findings are a composite reading of 20 U.S cities, 17 of which showed home price gains in September. Detroit and Washington D.C. showed slight declines, and New York City showed no change. Leading the recovery, though, appears to be Phoenix, Arizona. The previously hard-hit city has seen home … [Read more...]
Questions First-Time Home Buyers Should Ask
Nationwide, mortgage rates are low in Arizona and home prices remain relatively low, too. This combination, plus rising rents, is pushing renters in some cities -- including Phoenix -- toward first-time homeownership. Buying your first home can be exciting, but you should also do your research to make sure that you ask the proper questions of the process, and make the best choices for yourself and your household. For example, recommended questions for first-time buyers to ask home sellers include : What major repairs have been made to your home? Although standard disclosure forms are … [Read more...]
19 of 20 Case-Shiller Index Markets Improve In August
Home value rose to close out the summer, according to the S&P/Case-Shiller Index, a national home-valuation tracker. Nationwide, values rose 0.9% between July and August 2012 with 19 of 20 tracked markets showing improvement. Only one tracked city -- Seattle, Washington -- showed a decrease, falling just 0.1 percent. On an annual basis, 17 of the 20 Case-Shiller Index markets improved, led by Phoenix. Home values in the Arizona city are up 18.8 percent from August 2011. The next closest city in terms of home price gains is Detroit, Michigan at 7.6 percent We should temper our excitement … [Read more...]
