According to industry experts Trulia, Price and Rent Monitors, ” for the first time since July 2012, none of the largest markets in May- anywhere in the United States-saw home prices rise more than 20 percent year-over-year” So what does this mean for the market?
With the market mortgage rates decreasing trend continuing, market is forecasting sustainability for the first time in years. According to the article, rent us up nationwide which in itself is a boosting sign that the economy is once again blossoming. As of June 2014, Apartment rates are up 5.8 percent and single-family rents are up 2.1 (Morgan, Scott).
Growth in asking price:
According to the stats, asking prices are rising at a steady pace. Scott Morgan, author of Home Prices Moderate as Markets Stabilize, “ May (2014) asking prices rose at their slowest rate in 13 months, they still rose 8 percent, which remains well above the long-term historical norm for home-price appreciation. On top of that, prices rose 2.4 percent quarter-over quarter in May” (Scott).
This is great news for those looking to sell their homes! Things are looking up. For more information, visit.