With national and statewide home prices experiencing an increase, don’t hold off buying until spring. A national survey recently reported that the majority of Americans believe that home prices will increase over the next 12 months. The numbers are even higher for upper-middle class Americans, where only 6% believe prices will fall in the next year.
We’ve seen this trend on the rise over the past two years, and again in the last quarter. Nationally, home prices rose an average of 12% in the last three months, and in Wisconsin, the numbers are even higher at 15.8%. Experts predict that 2014 home prices will rise to their spring 2004 levels.
The S&P Case Shiller Home Price Index measures home prices across the United States in a variety of cities and compiles the data into a larger picture of home prices throughout America. The predictions for 2014 show the continued increases that the American public believes will occur in the next year. As homeowners, this means further appreciation of your assets and higher selling prices for future sellers.
Categories: Quarterly Newsletter