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: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
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 Nov 22, 2024 (unless otherwise noted).
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