U.S. Home Prices Grow At Fastest Pace Since 2006

REAL ESTATE ON THE SPACE COAST

BREVARD COUNTY, FLORIDA – “3..2..1….Blast Off!” A common phrase heard on Florida’s Space Coast as many rockets continue to launch from NASA. In addition to the rockets blasting off into space, so are U.S. home prices.

In January 2013 U.S. home prices rose at the fastest annual pace since June 2006 which was just before the housing bubble explosion according to a recent report from Standard & Poor’s/Case-Shiller.

This gain indicates housing recovery strengthening ahead of the all-important spring buying season.

The Standard & Poor’s/Case-Shiller 20-city home price index climbed 8.1 percent in the 12 months ending in January. That’s up from a 6.8 annual gain in December. Prices rose in all 20 cities. Eight markets posted double-digit increases, led by a 23.2 percent gain in Phoenix.

The S&P/Case-Shiller index covers roughly half of U.S. homes. It measures prices compared with those in January 2000 and creates a three-month moving average. The January figures are the latest available.

PRICES STILL BELOW 2006 BUBBLE PEAK

Home prices nationwide are still 29 percent below their peak reached at the height of the housing bubble in August 2006. They are only back to where they were in August 2003.

Higher home prices actually help encourage more people to purchase before prices rise further.

….. to continue reading click here to go to SpaceCoastDaily.com    

– SpaceCoastDaily.com strives to maintain high levels of integrity and honesty and to build a relationship with its readership of trust and reliability based on high ethics and social responsibility.

REAL ESTATE ON THE SPACE COAST

BREVARD COUNTY, FLORIDA – “3..2..1….Blast Off!” A common phrase heard on Florida’s Space Coast as many rockets continue to launch from NASA. In addition to the rockets blasting off into space, so are U.S. home prices.

In January 2013 U.S. home prices rose at the fastest annual pace since June 2006 which was just before the housing bubble explosion according to a recent report from Standard & Poor’s/Case-Shiller.

This gain indicates housing recovery strengthening ahead of the all-important spring buying season.

The Standard & Poor’s/Case-Shiller 20-city home price index climbed 8.1 percent in the 12 months ending in January. That’s up from a 6.8 annual gain in December. Prices rose in all 20 cities. Eight markets posted double-digit increases, led by a 23.2 percent gain in Phoenix.

The S&P/Case-Shiller index covers roughly half of U.S. homes. It measures prices compared with those in January 2000 and creates a three-month moving average. The January figures are the latest available.

PRICES STILL BELOW 2006 BUBBLE PEAK

Home prices nationwide are still 29 percent below their peak reached at the height of the housing bubble in August 2006. They are only back to where they were in August 2003.

Higher home prices actually help encourage more people to purchase before prices rise further.

….. to continue reading click here to go to SpaceCoastDaily.com    

– SpaceCoastDaily.com strives to maintain high levels of integrity and honesty and to build a relationship with its readership of trust and reliability based on high ethics and social responsibility.

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