Are national home prices up for the 8th consecutive year?


Are national home prices up for the 8th consecutive year?
By Scott Rogers • December 6, 2012
I received several e-mails last night from clients who were a bit confused by the story WHSV ran yesterday about the housing market. Here are some clarifications.... "National home prices are up for the eighth consecutive year." Actually, prices are up for the eighth consecutive month, as measured on a year-over-year basis. An improvement for eight straight months is quite different than eight straight years. (source) "The homes that are selling the quickest are actually homes priced between $200,000 and $250,000." Average days on market is actually lowest for homes priced under $200K, not for those priced between $200K and $300K. (source - page 26) "Bridgewater, Dayton, southwest Rockingham county area. That's where we've had the most significant price increase. Prices have increased 12 percent in that area this year." Per my calculations, it's actually a 3.6% increase, not a 12% increase. The Median Sales Price for Single Family Homes in SouthWest Rockingham County in 2011 was $205,000. The Median Sales Price for Single Family Homes in SouthWest Rockingham County in 2012 (YTD) is $212,500. I agree with the overall sentiment of the news story --- the local housing market is improving --- but there were a few items in the story that ended up being misleading (presumably, unintentionally). Here's to improvements in national (and local) housing prices for the next eight years! :) Receive Updates by Email Recent Articles: Buyer Demand Exceeds Supply In Varying Degrees By Price Range Pending Home Sales Data Points To Slower Months Of Home Sales Ahead Detached Resale Home Sales Decline 39% In Two Years, Down To... Pre Covid Norm What A Great Time To Sell Your Million Dollar Home Home Buyers Who Bought Homes Two Years Ago Thought They Were Paying Crazy High Prices For Their Homes How Likely Is It That We Will Find A House That Fits You Better Than This One In The Next 90 Days? Fewer Home Sellers, Thus Fewer Home Buyers, But Ever Higher Sales Prices In Early 2023 First Look At February 2023 Home Sales Valley View Village, To Include 420 Apartments, Proposed For Reservoir Street Balancing Optimism, Pessimism And Realism When Thinking About An Almost Perfect House
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Mar 22, 2023 (unless otherwise noted).
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