Great news! Echoing what we’re seeing here in the local market, home values are rising nationally, according to recent statistics released by the National Association of Realtors (NAR). According to DSNews.com, in April of this year “the median price of an existing home climbed 10.1 percent to $177,400 from $161,100 in April 2011, the strongest year-to-year gain since January 2006.” Additionally, foreclosures and short sales now account for significantly less of the home sales than at this time last year: 28 percent of April sales, down from 37 percent in April 2011. When broken down by region, overall sales in the Midwest are up 14.4 percent over the same period last year.
All of this means one thing: prices are recovering and continuing to climb! If you’ve been waiting to sell, now might be the time to list your property. If you’ve been thinking about buying, now is definitely the time to do it! Prices will only go up as the market continues to recover. As always, here at the Apostal Group we are always happy to answer any questions you may have about the housing market and to address your specific needs. Give us a call!
Photo courtesy of sailorbill