ShirLee's Homes4SaleUtah BLOG

ShirLee McGarry's Homes4SaleUtah BLOG, features great articles for consumers, homeowners and Realtors® addressing community, local, state and national real estate news. Articles also include refreshing humor to encourage smiles and support for all real estate warriors in the trenches who do stand out to make a difference in their client's lives in the exciting and challenging world of the Realtor®. Penned by Associate Broker-Realtor®,and Registered Author, ShirLee McGarry® with RealtyPath in Sandy, Utah

Monday, March 11, 2013

Price Rises on Homes for Sale Greatest since 2006

Homes for Sale Price Rises
Highest in 7 Years
   


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 Utah'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 Utah homes for sale, now is a good time to give me a call. Rising prices mean that the buyers are out there!

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