U.S. home prices rose 7.3 percent in 2012, the strongest rate of appreciation in seven years, according to the latest Core Logic Case-Shiller Home Price Index. Home prices will continue to grow in 2013 but at a decelerated rate of 2.5 percent. Through the fourth quarter of 2017, home prices are projected to increase an average of 3.9 percent per year every year.
The largest year-over-year price gains were recorded in some of the metro areas that were most affected by the housing bubble, including Phoenix where prices rose 23.8 percent in 2012, Miami which increased 14 percent and Las Vegas at 13 percent. In addition, price declines moderated in locations with lagging recoveries, such as Long Island where prices fell 4 percent and Virginia Beach, Va., where prices fell 2 percent.
By Regina Ludes, Monday, 20 May 2013 - 10:28am
The largest year-over-year price gains were recorded in some of the metro areas that were most affected by the housing bubble, including Phoenix where prices rose 23.8 percent in 2012, Miami which increased 14 percent and Las Vegas at 13 percent. In addition, price declines moderated in locations with lagging recoveries, such as Long Island where prices fell 4 percent and Virginia Beach, Va., where prices fell 2 percent.
By Regina Ludes, Monday, 20 May 2013 - 10:28am
No comments:
Post a Comment