National Real Estate Market Shows Positive Signs of Growth

By Saul Gross

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Things are certainly looking up on the national real estate market! According to a recent report from the national Standard & Poor’s/Case-Shiller Home Price Index, home prices increased during the month of January despite cooling home sales. Experts believe that a tightening inventory helped to spur the rise in home prices. This is important information for home sellers as it will help determine their selling strategy in the local housing market.

What National Home Sellers Should Know About the Market

Here are highlights from Standard & Poor’s/Case-Shiller Home Price Index latest report:

• National home prices increased 4.6% year over year in December, bolstered by increase of 9.3% in San Francisco; 8.4% in Miami.
• Home prices in Chicago increased 1.3% year-over-year while Cleveland and Washington saw price gains of 1.5%.
• Here are some additional cities mentioned in the report, including their year-over-year index change:

Atlanta: 5.1
Boston: 3.8
Chicago: 1.3
Cleveland: 1.5
Dallas: 7.5
Denver: 8.1
Detroit: 2.8
Las Vegas: 6.9
Los Angeles: 5.5
Miami: 8.4
New York: 1.9
San Francisco: 9.3
Washington: 1.5

• Meanwhile, experts described how regional housing indicators in the South and West were generally positive while the harsh winter continued to hold back home sales in the Northeast and Midwest.
• Specifically, existing home sales in the West dropped 7.1% in the month of January, according to National Association of Realtors data released March 2.
• Meanwhile, national home sales decreased 4.9% month over month.
• Sales in the Northeast dropped 6% month over month, while declining 4.6% in the South and 2.7% in the Midwest.
• Home sales were, however, up year over year in all four regions in January.

Streamline Can Make Your Real Estate Dreams a Reality

Selling your home? Contact us at Streamline today for valuable insights on the current state of the national housing market and how you can profit big. Check our blogs here and on www.streamlineluxuryproperties.com for more information!