Home prices across the nation are back to comparable levels from
where they were at in May of 2004. May of this year showed a twelve
straight month increase in home prices that came to a 3.7% increase
overall. This information, found from the Federal Housing Finance
Agencys latest House Price Index, also shared that on a seasonally
adjusted basis, April to May also had a 0.8% increase in
prices.
The above percentages were determined by using the prices of
houses having mortgages that were guaranteed or sold by Freddie Mac
or Fannie Mae. Despite all of these improvements in prices being
achieved upon the sale of a home, they nonetheless are far below
the plateau they reached in April of 2007. It was during this peak
time where home prices were 17% more expensive than they are at
today.
The National Association of REALTORS compared this past month of
June to June of 2011 where this year there was a 7.9% jump in home
prices compared to the corresponding month from a year ago.
Furthermore, this recent month of June also showed the largest gain
in home prices since February of 2006 and June of 2012 even
represented the fourth month in a row with nationwide increases in
average home prices. The central reason for much of this? NAR
simply notes that it can be attributed to there being less
distressed homes on the market in June than other months throughout
the years.
More Information: Realtor Mag