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Home prices rose in 41 states and D.C. in the 1st quarter of 2013

by Danielle Hale, Research Economist

Information From the National Association of Realtors -  Danielle Hale, Research Economist

  • FHFA (Federal Housing Finance Agency) price data shows that home prices across the United States rose 6.7 percent from the first quarter of 2012 to the first quarter of 2013. In 41 states and the District of Columbia prices were higher than the fourth quarter of 2012, and from one year ago the District and all states except Connecticut and West Virginia showed higher prices. In Connecticut and West Virginia, prices were weaker by less than one percent.
  • Price gains were largest in the West. Nevada, Arizona, California, and Idaho each saw gains exceeding 15 percent from one year ago. The map above shows the breakout of annual gains for each state.
  • Nationally, prices rose 1.9 percent from the fourth quarter. Note that this is seasonally adjusted, but not annualized, meaning that if prices continue to gain at this pace, it would imply an 8 percent gain for home prices nationally in the course of a year.
  • FHFA uses a weighted repeat sales index that compares the prices of properties that involve a conforming conventional mortgage purchased or securitized by Fannie Mae or Freddie Mac. Thus, the FHFA index is based on a broad geographical sample of home transactions, though it misses out on transactions involving cash, jumbo or FHA/VA loans. In spite of this limitation, its price trend is usually similar to that of other price measures.

Home sales continue to climb

by By Chris Isidore @CNNMoney

Home sales continued to climb in April, according to the latest reading on the housing recovery from an industry trade group.

From CNNMoney

The National Association of Realtors reported home sales edged up 0.6% to an annual pace of just under 5 million homes. Compared to a year ago, the pace of sales was up nearly 10%.  Click Here to Read More

Home Prices Expected to Rise Through 2017

by Regina Ludes

CRS Blog Connect

By Regina Ludes, Monday, 20 May 2013 - 10:28am 

U.S. home prices rose 7.3 percent in 2012, the strongest rate of appreciation in seven years, according to the latest Core Logic Case-Shiller Home Price Index. Home prices will continue to grow in 2013 but at a decelerated rate of 2.5 percent. Through the fourth quarter of 2017, home prices are projected to increase an average of 3.9 percent per year every year.

The largest year-over-year price gains were recorded in some of the metro areas that were most affected by the housing bubble, including Phoenix where prices rose 23.8 percent in 2012, Miami which increased 14 percent and Las Vegas at 13 percent. In addition, price declines moderated in locations with lagging recoveries, such as Long Island where prices fell 4 percent and Virginia Beach, Va., where prices fell 2 percent.

At 15 Days, DC Metro Sees Lowest Median DOM Since 2005

by Corey Hart

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Phyllis Wiesenfelder
Long & Foster Real Estate, Inc.
4650 East West Highway
Bethesda MD 20814
Direct: (301)215-6915
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