Posts from February 1st, 2011
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Where Are Housing Prices Headed?
The National Association of Realtors (NAR) has been reporting great news recently. Last week's Existing Home Sales Report and this week's Pending Sales Report both showed consecutive months of increases in the number of homes sold. Finally, buyers are jumping off the fence and taking advantage of one of the most opportune times to purchase a home in America's real estate history. With an increase in demand, price appreciation can't be far behind, can it? Actually, the answer is NO! Prices are not determined by demand alone but in the relationship of demand to available supply. The inventory of homes for sale is still too high and about to surge higher. Along with the news of increased demand yesterday, RealtyTrac released their 2010 Year-End Metropolitan Foreclosure Market Report. The report showed that distressed properties across the country are on the rise: … foreclosure levels remained five to...
1
Trending Up in 2011
Ours Are Among the Best Housing Markets in the Country! Housing Predictor, an independent real estate research firm, just released their ranking of 234 real estate markets in the country. The ranking was based on projected appreciation in local home values for 2011. And our markets top the list: Best 25 Housing Markets 2011 Forecasted Rank City Appreciation for 2011 1 Portland, ME 3.6% 7 Iowa City, IA 3.2% 22 Cedar Rapids, IA 2.6% 23 Des Moines, IA 2.6% 24 Davenport, IA 2.5% This forecast is consistent with the Federal Housing Finance Agency (FHFA) report. This ranking by appreciation also consistently rank...
