Since the housing crisis that saw the industry and its asking
prices plummet, there has not been much to get too excited about in
the Real Estate market. This year of 2012, however, has changed all
of that and now we are starting to see asking prices follow suit
and trend in an upward direction. In fact, Trulia has reported that
just at the beginning of this month during their monthly report for
September that there was the greatest year-over-year change in
average asking prices recorded since before the housing
downturn.
Looking to the results, it has become clear that there was a
2.5% increase in asking prices of properties listed on the Trulia
website over the past year. Moreover, if we look at these same
results but take out foreclosure listings, the percentage change
was an even better 3.5% improvement.
July to August of this year also showed a seperate 0.5% gain in
average asking prices which was a massive climb in just one month
Nationwide. Overall, these most recent findings showed that 74 out
of the top 100 metro areas in the Country found their asking prices
to be getting stronger. “Right now, prices are recovering across
the country, with few local markets left behind,” says Jed Kolko,
Trulia’s chief economist. Finally, even asking prices for rental
properties were up an even more impressive 5% in September of 2012
compared to the same corresponding month from 2011. If the time to
buy is not now as the market continues to build, then I am not sure
when a better time will come around; this is the start of a
wonderful future for the Real Estate industry.
More Information: National Association of
Realtors