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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