Home values across the nation improve in value
Posted on Tuesday, August 28, 2012 at 7:26:41 PM
Positive news is on the horizon for potential homebuyers. According to recent figures from Zillow Home Value Index, prices improved 0.5 percent from June 2012 to July 2012 to $151,600. In addition, home values were up 1.2 percent in a year-over-year comparison.
"This summer, the housing market continued to heal, as home values experienced their eighth consecutive month of increases," said Zillow Chief Economist Dr. Stan Humphries. "Tight inventory levels are leading to bidding wars and multiple offers across the country."
According to the market research firm, almost 62 percent of the metros reviewed saw home values increase in July 2012, while 49 of the 167 cities reviewed experienced declines. The metro experiencing the greatest price increase was Phoenix, Arizona, at 2.2 percent, closely followed by San Francisco with 1.2 percent and Denver at 1 percent. Potential homebuyers looking to purchase a property in a strong market can consider residential financing from Home Loan Investment Bank for an affordable option. Whether an individual is looking to buy in a region featuring strong market growth, such as Phoenix, or in areas that have a slower progression, there is an available home out there for anyone.