CoreLogic explains that December homes prices have grown the most annually since May of 2006, six years ago!
From November, home prices, including distressed property sales, declined ever so slightly by 0.4%. However, when you exlude those distressed properties, home prices have risen 7.5% over December 2011!
According to Mark Fleming, chief economist for CoreLogic, “December marked 10 consecutive months of year-over-year home price improvements, and the strongest growth since the height of the last housing boom more than six years ago. We can expect price growth to continue in January as our Pending HPI (Home Price Index) shows strong year-over-year appreciation.”
What does this mean for home buyers? The current “Buyer’s Market” presents buyers with a great opportunity to buy a home while there are still a lot of homes available at very affordable low prices. Now is the right time to buy a Las Cruces Home. This buyer's market may not last past this spring’s buying season. With increased demand, the Market will be much more competitive.
What does this mean for sellers? Anyone that is even thinking about selling a home in Las Cruces needs to know that: NOW!!! IS THE TIME TO SELL The rise in Demand expected during this spring buying season, should result in higher home values for sellers.
If you have any questions feel free to contact us!
Steinborn & Associates Real Estate (575) 522-3698