Tuesday, January 10, 2012
Home Prices in the Northeast Saw an Overall Increase in 2011!
In summarizing an article on Housingwire.com by Justin T. Hilley, there is some good news for the local real estate market...Home prices stabilized in the second half of 2011 and are expected to rise somewhat in 2012, but should remain near levels not seen since 2001, according to Clear Capital. “Overall, 2011 was a relatively quiet year for U.S. home prices compared to the last five years,” said Alex Villacorta, director of research and analytics at Clear Capital. “Although the national numbers suggest markets are flat, when looking at individual metro markets it turns out only 24% of them showed signs of stabilization in 2011, while the others are still moving more dramatically higher or lower. Regional trends revealed a bit more price variability. The Northeast's meager 0.1% yearly gain led the nation, comparing favorably to the drops of 1.3% in the South, 3% in the Midwest and 4.4% in the West.