Housing price data indicates further market recovery
Tuesday, July 10, 2012
A new report from Clear Capital, a leading provider of real estate and data asset valuation, risk assessment and investment, reveals new insight that further indicates recovery in the housing market.
The Home Data Index Market Report from Clear Capital revealed the West leading the way in recovery and the Midwest also showing signs of growth and stability in terms of housing prices. Some highlights of the report include that nationwide, home prices recovered with both yearly and quarterly gains of 1.7 percent and that June saw increased support for a recovery in terms fo housing prices given momentum with broad advancements.
“June home price trends provided further evidence that housing has turned the corner, with the momentum of the recovery picking up speed,” said Dr. Alex Villacorta, director of research and analytics at Clear Capital. “Prices continue to climb at the national level, with each of the four regions showing improvements over last month. The West continued as the front runner in terms of overall market correction, with growth branching out from the low tier to mid- and higher-priced homes. Seeing price growth expand to other sub-markets is a key step in the evolution of this recovery."
In the Phoenix market, housing prices increased 20.4 percent on a year-over-year basis and 8.7 percent on a quarter-over-quarter basis. This surge helped propel the West as the region to watch in terms of growth and improvement. In fact, the West led the other regions in forecast growth and price recovery and the Midwest recovered after registering consistent declines in price over the past year.
“Looking forward over the rest of 2012, we expect to see national, regional and most metro markets improve by varying degrees," Villacorta added. "And while it’s encouraging to see broad-based advancements coupled with positive forecasts, we remain cautiously optimistic. The current strength in housing fundamentals remains vulnerable to domestic and global economic challenges."
The recovering housing market is starting to register in consumer attitudes as Fannie Mae's June 2012 National Housing Survey found that despite floundering confidence in personal finances and the economy, consumers are recognizing the strengthening housing market.
Investors should keep in mind how the housing market and other facets of the economy can influence trading and investment strategies. They can take advantage of online stock trading opportunities as well.
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