Home Prices Up in US
According to Clear Capital's latest Home Data Index (HDI), federal homebuyer tax credits helped springtime price gains, as national quarter-over-quarter price increases reached 5.2%; year-over-year prices were up 8.8%.
"Price trends nationwide have a seen a considerable upswing driven in large part by the flurry of recent sales attributed to the tax credit and springtime buying activity," said Dr. Alex Villacorta, Senior Statistician, Clear Capital. "This month's national quarterly gains are certainly a positive sign that many markets have responded to the tax credit incentive, but overall markets remain volatile as evidenced by the six month price change keeping mostly flat."
Regionally, the Midwest and South saw the largest quarterly price growth, while the West and Northeast show more stable quarterly gains.
Only two markets, Baltimore, Md. and Orlando, Fl. saw prices remain below their levels of a year ago. However, both markets did move closer to positive year-over-year numbers, when compared to last month.
(resource: RealEstateChannel.com)
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