Brace yourself: Real estate prices going back up
House prices, after falling for more than five years, are rising
again. All the major sales-price indexes show that there have been
modest national increases in recent months, even after adjusting for
seasonal patterns.
When foreclosures and
distressed sales are excluded from the data, prices are up even more.
And we should expect further gains: The asking-price index, a leading
indicator of sales prices, published by Trulia Inc. (where I work),
climbed at an annualized rate of 3.3 percent in the second quarter of
this year, adjusted for mix and seasonality, and rose in 84 of the 100
largest U.S. metropolitan areas.
Of
course, if the U.S. economy falters, due to a deepening of the economic
crisis in Europe or a wave of foreclosures, prices may reverse. For
now, though, the increases are widespread. For the real-estate market
and housing policy, this is cause for relief, but also for some concern.
Real estate is one of the industry which have many ups and downs and people also buy and sale in this market at any time and they can get good benefit from this market.
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I agree, the Real Estate market "was" a "fine" place to be at one time as people do need a place do reside, and purchases will be both bought and sold.
ReplyDeleteThat is "Fine" until the Government hand step in and turned it into fraud.
How can one put a value on something that has been artificially priced?
As for the industry for property, it helped from a powerful need over previous times year which led to a high and constant cost of leases to a certain level in the investment Beirut.
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