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Market Stabilized: Home Prices Representative

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?

Sustainability:

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.




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