Home Prices Rising, Market Recovering | Nashville Real Estate
This spring saw a distinct rise in home prices across the U.S. and some experts are saying that could be a signal of a recovery in the U.S. housing market.
A recently revealed industry report shows that the S&P/Case-Shiller national home price index, which covers more than 80% of the housing market in the U.S., climbed 6.9% in the three months that ended June 30, compared to the first three months of 2012.
Two other indexes covered in the same report showed other gains: the 20-city index was up 6% for the quarter and the 10-city index rose 5.8%. National prices were up 1.2% compared with the same time in 2011 and the 20- and 10-city indexes also gained with each year. The report shows all three measures recording positive annual growth rates for the first time since the summer of 2010.
Other industry reports are showing positive numbers and growth, too. In Nashville, the real estate market has been showing continuous growth since the start of the year. In July, the Nashville market saw a 27% increase in home sales as compared to July 2011. Click here to read about the July 2012 Home Sales in Nashville. Nationally, new homes sales were up 25% in July and existing home sales were up 10%. Moreover, developers applied for 30% more residential housing permits, showing their trust in the state of the market.
With numbers nation-wide showing positive gains, it is safe to say the market is well on its way to recovery. Click here to see our current listings if you think this is the year for you to sell your home and buy a new one!