“When your friends begin to flatter you on how young you look, it’s a sure sign you’re getting old.” Mark Twain
DAILY REAL ESTATE NEWS | WEDNESDAY, DECEMBER 04, 2013
Twenty-three states are within 10 percent of their 2006 home price peaks, CoreLogic reports in its latest housing data report reflecting October data.
Home prices have increased 12.5 percent year-over-year. However, prices had a more modest month-over-month gain of 0.2 percent from September to October. CoreLogic’s Home Price Indexalso reflects distressed sales.
“In terms of home price appreciation, the housing market appears to be catching its breath as we head into the final months of 2013,” says Anand Nallathambi, president and CEO of CoreLogic. “The deceleration in month-on-month trends was anticipated as strong gains in home prices over the spring and summer slow in line with normal seasonal patterns and the impact of higher mortgage interest rates.”
The following five states have seen the highest home price appreciation year-over-year:
- Nevada: +25.9%
- California: +22.4%
- Georgia: +14.2%
- Michigan: +14.1%
- Arizona: +14%
The only state in the CoreLogic index that has seen prices fall is New Mexico, where home prices fell 0.5 percent year-over-year.
Soaring home prices are allowing more states to catch up to their home price peaks in 2006. Sixteen states are all within 5 percent or less of their peak home prices: Arkansas, Colorado, District of Columbia, Iowa, Louisiana, Nebraska, Montana, New York, North Dakota, Oklahoma, South Dakota, Tennessee, Texas, Vermont, Wyoming, and Alaska.
“The slowdown in appreciation is positive for the housing market as almost half the states are now within 10 percent of their respective historical price peaks,” says Mark Fleming, chief economist for CoreLogic.
Meanwhile, the following five states remain the furthest from their peak values as of October, according to CoreLogic:
- Nevada: -40.7%
- Florida: -37.4%
- Arizona: -31.5%
- Rhode Island: -29.3%
- West Virginia: -28%
The National Association of REALTORS® recently reported that its existing-home sales index saw home prices tick up 12.8 percent in October year-over-year. A persistent tight inventory of homes for sale is holding back sales but pushing up home prices in most areas of the country, Lawrence Yun, NAR’s chief economist, said in the report.
–REALTOR® Magazine Daily News
a little about me and my expertise – video
LAND SPECIALIST – LAND EXPERT – INVESTMENT BROKER – ARIZONA
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http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history
http://en.wikipedia.org/wiki/Phoenix,_Arizona
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Facts of Arizona – year 1848 to 2013
http://walter-unger.com/?p=9507
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.
WHETHER YOU LEASE OR OWN
NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.
we are at on the a rise of the cycle in Commercial Real Estate. so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix. The prices on deals I may get you will not be around forever.
WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME
We barely could give land away the last few years, but times are changing. Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.
If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me 520-975-5207 (cell) 602-778-5110 (office direct).
Thank You
Walter
Walter Unger CCIM
Associate Broker
Kasten Long Commercial
2821 E. Camelback Road, Suite 600
Phoenix, AZ 85016
Cell: 520-975-5207
Direct: 602-759-1202
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