2014 HOUSING OUTLOOK: HOME PRICES ARE HEADED HIGHER

Posted by zzz - Lorea Thomson

| Realtor

Updated on June 24th, 2014

|

Published in Community Features

According to the KIPLINGER REPORT, home prices will rise in 2014 but a slow steadier pace compared with historical trends.  The housing recovery has pushed up homes prices nearly everywhere. 

Over the past year, home price rose in 225 of the 276 cities tracked by Clear Capital, a provider of real estate data and analysis.  Good news for people who have waited to sell their houses.  Prices nationwide rose by 10.9%, up by $30,000 to $215,000!

In 2013, a sense of urgency drove buyers to take advantage of affordable home prices and low mortgage prices.  However, buyers were forced into bidding wars.  Sellers reaped the rewards of quick sales and often receiving above asking price.   

Kiplinger market observers agree that home prices will rise  4% and Clear Capital is projecting a 3% to 5%. 

To discuss the current real estate market in depth in our area, please contact the specialists at Waterfront Property and Club Community by calling 561-746-7272 or email INFO@wfpcc.com.