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Home Prices Post Strongest Annual Gain In Nearly 8 Years
Nonetheless, market momentum is changing, according to Lawrence Yun, chief economist at NAR.“Rising prices and higher interest rates have taken a bite out of housing affordability,” Yun said. “However, we have the ongoing situation of more buyers than sellers in the market, so lower sales will help to take the pressure off home price growth and allow them to rise slowly at a single-digit growth rate in 2014.”The national median existing single-family home price increased by 12.5 percent year over year to $207,300 in the third quarter, the strongest year-over-year gain since the fourth quarter of 2005 when it shot up 13.6 percent, according to the trade group.In the second quarter, the median price reportedly rose 12.2 percent year over year.-
See more at: http://www.inman.com/2013/11/06/home-prices-post-highest-annual-gain-in-nearly-8-years/#sthash.mQHiS...
Jim Cavoto has been serving Colorado Real Estate market since 2000. Jim carries both Real Estate Employing broker level license & The Colorado Mortgage Origination License. As a rare "Native" of Col....
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Everything You Know About Denver’s Real Estate Market Is Wrong Well, maybe not everything. But thanks to scant housing inventory, massive population growth, and still-low interest rates, buying