US Housing Market Posts Highest Annual Gains Since 2006
In what seems to be non-stop good news for the US housing market (despite mortgage rates), the US posted annual value increases of 10.2 percent. These figures are the highest annual growth rates since 2006.
This information shows a steadying US housing market, with apparently no concerns for a housing bubble, based on comparative analysis showing similarities with a 2002 US market. And, although these figures are great news for the US housing market as a whole, a closer look reveals that the top 15 markets nationwide have already started slowing and cooling trends. Which, is actually great news for a healthy real estate market as extreme and substantial price increases are unlikely sustainable in a healthy marketplace.
Also, it is important to note that the heaviest buying period is winding down as we approach the winter months in the US. Numbers will significantly decrease, bringing national averages back to a more normal figure.
So, how does this 10.2 percent annual price growth change your approach to the market in your area, if at all? Do you think now is a good time to buy, sell, or hold out?
We always welcome your thoughts, ideas, and perspectives in our comment section below. And please tell us how things look in your area!
Photo Courtesy of 401(K) 2013’s Flickr