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FHFA Index Shows Improving Home Prices as Market Continues to Stabilize
|As a number of housing market reports continue to say the market is recovering, the Federal Housing Finance Agency's House Price Index for the month of April agrees, as prices were up on both a monthly and annual basis. While prospective buyers may see higher prices as a negative factor, it is a sign of an improving economy.
Wednesday, July 12th, 2012
As a number of housing market reports continue to say the market is recovering, the Federal Housing Finance Agency's House Price Index for the month of April agrees, as prices were up on both a monthly and annual basis. While prospective buyers may see higher prices as a negative factor, it is a sign of an improving economy.
Data shows that U.S. house prices rose 0.8 percent on a seasonally adjusted basis from March to . The previously reported 1.8 percent increase in March was revised slightly downward to reflect a 1.6 percent increase. When compared to home prices from April last year, prices were up 3 percent, while the U.S. index is still 17.6 percent below its peak reached in April 2007, but similar to the level in April 2004.
Home prices were negatively affected by the housing market slump, as delinquent homes, including foreclosures and short sales, have been offered at deeply discounted prices. As more consumers made the investment of purchasing a low-priced property, the inventory has decreased, boosting home prices across the country. Current homeowners will also benefit from improving home prices and a better housing market if they decide to list their property for sale in the future.
In the FHFA's South Atlantic region, which includes Florida, home prices improved 1.2 percent from March to April. This is great news for homeowners and prospective buyers, as the market was hit hard by foreclosures throughout the downfall of the market. National real estate trends have a major impact on the real estate market on a daily basis. Keeping up-to-date on the latest news and notes posted by GL Homes can make sure those looking for South Florida homes know exactly how the current market will affect them.