Home Prices & Sales of Newly Built Homes Increase

This Month in Real Estate…
Home Prices on the rise. Actually, on the sharp rise for sales of newly built homes. Recently the national housing reports the Standard and Poor and the Case-Shiller index was up 0.2% in December 2012 from November and 6.8% year over year. California cities posted strong increases. National home prices went up 7.3% so far this year, according to S&P/ Case-Shiller. The median price for newly built houses in January was $226,400. Also a report from the U.S. Commerce departments stated sales of newly built homes surged to nearly 16% in January. Historically low sales for new construction hit an all time low in 2011. Good news for new construction of homes. Another good sign of Recovery.

Thank you for Reading,
Gordon Inman