In a signal that the U.S. housing market is in the midst of a recovery — U.S. home prices rose in September — marking a sixth straight month of gains.
According to the S&P/Case-Shiller home-price index released Nov. 27, its 20-city composite showed a 0.3 percent increase in September following a 0.8 percent gain in August. Home prices are up 3 percent from the prior year.
“We are entering the seasonally weak part of the year. Despite the seasons, housing continues to improve,” David Blitzer, chairman of the index committee at S&P Dow Jones Indices said in a Wall Street Journal MarketWatch report.
Among the 20 cities tracked by the index, 13 posted monthly gains in September.
However despite the recent gains, prices are about 30 percent below peak levels in 2006, according to the Case-Shiller data.
Read the full MarketWatch report here.
While we are noticing the regular "Seasonal Slow Down" the Albuquerque real estate market is showing a signs of a strong rebound.
With consumer confidence increasing across the board, interest rates being historically low, and home prices remaining reasonable, real estate is gaining strength and Albuquerque buyers and sellers are feeling more and more comfortable getting off the fence.
For home buyers, now is a great time to buy, and with the increase in buyer population sellers are able to sell their homes more rapidly and often for more money than in previous years.
For more information or to discuss this further, please call your Q Realty Advisor at 505-750-0059.
Posted on Albuquerque Real Estate-Albuquerque Homes For Sale
No comments:
Post a Comment