Peoples Home Equity, which as branches in both the Denver and Dallas area thinks both markets are very attractive for buyers.
Chicago, IL (PRWEB) May 28, 2015
Lenders like Peoples Home Equity were pleased to see the most recent May 26th release of the S&P/Case-Shiller Home Price Indices report. The ramifications of higher home price index values will be higher mortgage rates and a trend in home prices moving even higher.
As shown in the release, the national home price index “recorded a 4.1% annual gain in March 2015 versus a 4.2% increase in February 2015.” More impressive was the 10-City composite index gaining 4.7% year-over-year and the 20-City composite gaining 5% year-over-year.
Regionally, “San Francisco and Denver reported the highest year-over-year gains, with price increases of 10.3% and 10.0%, respectively, over the last 12 months. San Francisco’s 10.3% annual gain is its first double digit year-over-year increase since July 2014. Dallas reported a 9.3% year-over-year gain to round out the top three cities.” Peoples Home Equity, which as branches in both the Denver and Dallas area thinks both markets are very attractive for buyers. Both markets experience low peak to trough declines during the housing bust. The S&P/Case-Shiller Home Price Index for Denver shows a peak-to-trough decline of -14.3% from 140.28 in August 2006 to 120.21 in February 2009. For Dallas, the decline was even smaller at just -11.2% from 126.47 in June 2007 to 112.26 in February 2009. San Francisco is the undisputed leader in its index performance but many are fearful the city is in a real estate bubble. The index for San Francisco has risen 74.9% from a value of 117.71 in March 2009 to 205.98 for March 2015.
Those looking for stable and affordable priced properties are safer to look at Denver and Dallas. However, prices in both areas are expected to continue higher as America’s unemployment rate continues to trend low at 5.4%. Americans are finally getting their finances under control and lenders are enabling individuals who have saved a down payment to purchase a home.
If in need of a mortgage, contact a Peoples Home Equity loan officer today at: 262-563-4026