Today the Wall Street Journal front page article is titled:
Home Prices Climb as Supplies Dwindle.
Prices nationally rose 2.5% from June 1 year ago. The data from CoreLogic showed a 6% increase from the previous quarter, the largest quarterly jump since 2005.
This message of housing recovery, reinforced with data from the real estate industry is effecting a shift in the public perception of the real estate market. Buyers are active. Demand is up, as inventory has sharply decreased from 1 year ago. Mortgage rates have dropped to the lowest levels in 60 years. Sellers should take advantage of the opportunity to list and sell their homes now. In Miami the number of days on the market is decreased and homes with list prices supported by recent closed sales are selling close to list price, frequently with multiple offers.
