JUPITER, Fla. (PRWEB) December 14, 2012
The S&P / Case-Shiller index, a closely monitored and highly regarded real-estate report, shows home prices have made their highest gain in two years.
Home prices in the third quarter rose 3.6 percent from the third quarter of 2011 – a sign of market recovery. The 3.6 percent is three times larger than the second-quarter, year-over-year increase and the most significant since 2010, according to the economists who compile the index.
The latest round of numbers comes at a time as other economic indicators are pointing toward improvements in the housing industry. The jobs market is improving, and a lower-than-usual inventory of homes for sale in Jupiter and throughout the country as a whole is helping drive up prices.
Another factor working in the favor of Realtors at Waterfront Properties and Club Communities and other firms around the nation is record-low rates on mortgages, which are making it easier, safer and more stress-free for homebuyers to become homeowners. That, in turn, boosts overall home sales, and that, in turn, pads the pace of homebuilding and leads to a robust environment.
Dean Baker, a Center for Economic and Policy Research economist, said the outlook is rosy. Baker said the price of existing homes will outpace inflation but will not return to pre-bubble days.
The chairman of the index committee, David Blitzer, said the latest report pushes the housing market to its sixth consecutive month of improvement.
Real estate for sale in South Florida is one of 20 markets tracked by the important index, and all of them except for two are showing rampant rises in value. The two outliers are Chicago and New York. The market with the biggest gain was Phoenix.
Homebuyers who want to become homeowners in South Florida are welcome to contact one of Waterfront Properties friendly and knowledgeable agents.
For information, call 561-746-7272.