Nationally, Home Prices Are Up

Yes, summer has come and gone. As we head into fall, we are continuing to enjoy nice weather and sunny skies. Like the weather, the national housing market is experiencing its fifth straight month  in a row of gains.



A recent Reuters article (September 4th, 2012) noted that home prices in June "rose more than expected". In fact, in the  survey of 20 cities taken nationally, there was a 0.5% increase over 2011 prices.





David Blitzer, the chairman of the index committee at Standard & Poor's, went so far as to say "We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change."

Traditionally, the summer buying season is strong. The June numbers benefitted from this phenonina. Blitzer went on to say that "the gains on both a monthly and yearly basis boded well for the housing market."

The financial markets reaction to the data has been cautious as investors turn their attention to Federal Reserve Chairman Ben Bernanke to see what, if any, action he plans to take.

The bottom line: The housing market continues to rebound from one of the worst economic downturns in our nations history. The pace of the housing recovery is slow, but steady. Minus any unforseen national or international event, we should see continued improvement.

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search