It’s hard to believe just a few short years ago we were seeing double digit price drops. Now the tables have turned and as we head into the sizzling summer selling season, with an already huge head of steam the question is are we headed for another meltdown?
The Wall Street Journal is reporting that Home prices in March rose by 10.9% from a year earlier, the largest such gain in seven years, according to an index tracking home prices in 20 U.S. cities.
So how does our market compare? For the same time period (March 2012-March 2013) Ada county has seen a 22% increase in year over year Median Price. 22%!
22% increase in median price over March 2012
With low inventory for the foreseeable future and record low interest rates the question is how long will it last. If you have been staying put because you couldn’t sell previously give me a call to see what your homes value is now.
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