Home Prices Rise for the Sixth Straight Month

Home  Prices Increase

Once again home prices are on the rise. For the sixth month in a row, home prices have continued to rise in America’s largest cities. Low home supply and increased demand is continuing to help the housing market. Now is the perfect time to buy a home in Blackhawk as home prices are continuing to rise.

The Standard & Poor’s/Case-Shiller home price index for the 20 largest metropolitan areas in the country rose 0.3% from August and 3.0% from September 2011. Not only was this the sixth consecutive month in a row for price increases, it is the fourth year in a row to see a year-over-year increase.

13 out of the 20 cities tracked by the report showed a gain over August of 2012, and 18 cities saw price increases when compared to year-over-year numbers. The city leading the way in the report was Phoenix, which was one of the cities hit hardest in the past housing market. Phoenix had a 1.1% gain from August and a large increase of 20.4% from year-over-year.

“With six months of consistently rising home prices, it is safe to say that we are now in the midst of a recovery in the housing market,” said David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices.

 

If you are ready to sell or buy a home, contact me by email or call me, Brad Gothberg, at (925) 648-5326. I have been a real estate professional for 23 years, and my qualifications include the production of over $105 million in sales within the past 5 years.

 

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