Nearly 1,000 American cities are seeing home values nearing pre-recession levels. Zillow Real Estate Market Reports stated that values rose 5.7 percent in the first quarter of 2014 year over year and are up 0.5 percent compared to the fourth quarter of 2013. Home values have seen an increase over the last nine quarters and the trend is expected to continue through 2015. Out of over 300 metro areas that Zillow tracks, 60 have already exceeded or will exceed pre-recession values in the next year. It is anticipated that housing will remain affordable in a lot of metros, but in a few cities, prices are already unaffordable – namely San Francisco, Los Angeles & San Diego. Luckily, mortgage rates are still low & that assists in keeping home purchases possible in a number of areas.
Category: Real Estate News
Government Shutdown Impacts Builder Confidence
October 18, 2013 – 8:18 pm
Both builders & consumers have been shaken by a combination of increased mortgage rates, the government shutdown & the debt limit debacle. Single-family home builder confidence is at its lowest level in four months, but ironically, overall optimism relatively high. It is also important to note that interest rates are still incredibly low, relative to historic levels. Read the full article at worldpropertychannel.com
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Bend, OR on List of Improving Markets Index
September 30, 2013 – 6:05 pm
Bend, OR is #203 out of 291 on National Association of Home Builders/First American’s Improving Markets Index. These figures are based on three sets of data: employment growth, home price growth & single-family housing growth. This article has a link to a spreadsheet of all 291 markets.
