Home Prices Continue To Climb Across The U.S.

Home Prices Continue To Climb Across The U.S.

After years of hardship and dwindling prices the housing market and everything that comes along with it seems to be doing better. Polls show that this October home prices rose by 6.3% from the same month of 2011.

This was the biggest growth since 2006 and a sign that things are on their way to normal.

September 2012 saw house prices fall by 0.2%; however, this is just because of the off season in regards to home buying. Economists say that this growth is “broad based”, meaning that almost all markets across the U.S. have experienced a significant growth.

With the biggest growers ranging from 21 to 10% in 5 states the home prices have continued to drop. Illinois Delaware have seen drops of 2.7% while states like Rhode Island and New Jersey decreased only by 0.6 %. The list is completed by Alabama, whose prices fell by 0.3%.

The price rise was also helped by the fact that fewer homes were on the market as of this year. The levels continued to drop during the course of 2012 by 22%. This has led to what realtors call a balanced market.

The demand for homes coupled with lower interests also had a lot to do with the improvements and recovery of the housing market.

Posted by James Fried on Tuesday December 04 2012, 7:04 PM EST. Ref: USA Today. Link. All trademarks acknowledged. Filed under Featured News, Finance. Comments and Trackbacks closed. Follow responses: RSS 2.0