Home prices, home sales increasing

18 Jul
A percent sign.

A percent sign. (Photo credit: Wikipedia)

Inventory of homes for sale is low… this makes sense if you think about a home with negative equity: homeowners cannot list their property for sale.  This lower inventory is having a positive effect on home prices, supply is low, demand is high.  There is interest especially in lower-value properties for investment.

CoreLogic reports that  lower-priced homes are appreciating most quickly.  Since last year, homes priced 125 percent or more higher than the national average improved by 1.8 percent, with homes priced at 75% of the national average appreciating 5.7%.

Lender Processing Services (LPS) home price index shows a 2.5% increase this year, the greatest increase since 2005.

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