Home Prices Continue Their Rise

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Peoples Home Equity informs readers for the third time this month that property values are rising. Those interest in purchasing a home should prepare themselves now.

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All 100 of the metropolitan areas studied experienced year over year price gains.

Peoples Home Equity has published 2 previous news releases echoing reports that home prices have been rising in full force over the past year. Now, yet another analytics provider of real estate has published a report showing the ongoing positive trend of the housing market.

On November 5th, CoreLogic released their Home Price Index Report. On the surface the report states that “home prices increased 12% nationwide” from September 2012 through September 2013. “September marks the unofficial five-year anniversary of the start of the housing crisis. The five-year home price appreciation for all homes in the nation was 3.4 percent. While there is still room for improvement, the HPI is at the highest level since May 2008,” said Dr Mark Fleming, chief economist for CoreLogic. While stock are at their highest point since 2008 they have not reached all-time highs, like stocks have relative to pre financial crisis levels. Home prices remain 17.4% below their April 2006 peak.

Homebuyers should take notice that property values are expected to rise another 12.5% through October 2014. If one is looking for value the the 5 states trending furthest from their peak prices are Nevada (-41.4%), Florida (-37.7%), Arizona (-32.1%), Rhode Island (-28.3%), and West Virginia (-26.5%). On a positive note, the report stated that all 100 of the metropolitan areas studied experienced year over year price gains.

To participate in the growth in housing, homebuyers must be prepared, which means getting approved for a mortgage. Peoples Home Equity offers numerous home buying tools to help the buying process be as simple to plan as possible. Their online calculators on their redesigned website include tools such as: “How much can I borrow?”, “Should I pay points?” , and “How much do I have to earn?” The lender truly streamlines the mortgage application process as much as possible with their “Home Loan Quick Qualifier” entry field shown on the right hand side of nearly every web page.

Visit PeoplesHomeEquity.com today to begin using their great online tools. Or contact a loan officer today at 855-897-0300 to discuss all loan options under no obligation.

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Ornis Mala
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