Home Prices Climbing Across the Nation

“Home prices posted the largest annual gain since housing bubble days in August, although the month-over-month gain slowed for the fourth straight month.”  - CNN.com

In their August 2013 article, NBC News reports that the sale of previously owned homes reached the “fastest pace since November 2009.”

In fact, in the third quarter, listing prices for single-family homes across 88 percent of U.S. cities rose. Some are seeing double digit increases. In the third quarter, there was a 12.5 percent nationwide increase for existing single-family homes. And this includes the Los Angeles area which saw a 26.2 percent increase.

Good News

Prices are expected to climb to 6 percent next year for previously owned homes. The housing market is recovering and making great strides along the way. 

Though climbing, the cost to purchase a home today remains at affordable levels. In September, California was among the five states that saw the highest home price appreciation (22.5 percent). In fact, we were only second to Nevada with a 25.3 percent increase.

Is this good news? More than ever! Now is the time to buy or sell real estate in Laguna Niguel. Though interest rates rise and fall, they continue to be at remarkable lows.

Why Buy?

Although home prices are climbing across the nation, they remain 20 percent lower than July 2006 home prices. It’s still a good time to purchase a home at an affordable price, with low interest rates, and with the extras that you are looking for.

Why Sell?

Today’s housing market is great news for sellers, as many areas across the nation are experiencing a seller’s market. Contrary to a buyer’s market with more supply than demand, a seller’s market means less competition as the inventory simply isn’t there. It’s a great time to sell.

Are you interested in Dana Point and Laguna Niguel housing statistics? We would love to discuss all possibilities before you as a buyer or seller.