Housing prices increase nationwide in April
Posted on Wednesday, June 5, 2013 at 1:17:11 PM
There may be a growing importance for residential financing among prospective homeowners nationwide as housing prices continue to increase.
Having exhibited considerable improvement in past months, home prices were again seen appreciating in April, according to CoreLogic. In the online real estate analysis provider's latest Home Price Index Report, it was announced sale totals during the month were observed at level 3.2 percent higher than March figures, and 12.1 percent more than amounts recorded in April 2012.
The latest data marks the largest year-over-year gain seen in housing prices since February 2006, and represents the 14th straight month improvement from year-ago numbers was logged.
"We expect this trend to continue, bolstered by tight supplies and pent up buyer demand," said Anand Nallathambi, president and CEO of CoreLogic.
Positive developments in the housing market during April was also reported by the National Association of Realtors, which noted pending home sales rose on both monthly and annual bases. In the organization's Pending Home Sales Index for the recent month, a 0.3 percent increase from March totals was outlined, as was a 10.1 percent uptick from April 2012 figures.
As conditions continue to improve and point toward the continuation of the ongoing nationwide economic recovery, an increasing number of consumer may look to secure residential lending in order to help finance property purchases.