US Home Price Are Up; Here’s A Snapshot Of What The Median Regional Cost Will Buy You
By Angelo Young | February 27, 2013 8:16 AM EST
U.S. single-family home prices are edging up as foreclosures ease, mortgage rates fall and potential home buyers are more willing to dive back into the market.
This helped raise prices by over 7 percent nationwide in the last quarter of 2013, according to the latest figures from Standard & Poor’s/Case-Shiller.
Big home improvement retailers The Home Depot, Inc. (NYSE:HD) and Lowe's Companies, Inc. (NYSE:LOW) both beat Wall Street profit forecasts in their latest quarterly earnings reports, suggesting that recent home buyers have been busy getting their new pads in order.
According to the National Association of Realtors, January’s median home prices are up across the nation by 12.3 percent, to $173,600.
The country’s Western region, which has been battered hard by the repercussions of the 2008 subprime mortgage meltdown, is seeing a nearly 27 percent rise in year-over-year median home prices, to $239,800.
The Northeast saw the smallest growth, of 2.4 percent, to $230,500. Purchasing is up, too. Americans bought 9.1 percent more homes in January than in the same period last year. All regions saw increases in buys except the West, where the number of home purchases shrank by 5.7 percent.
The market is far from healed, and listings consistently show homes selling at lower prices than what they were bought for. Here’s a snapshot of what the median home price per region will get you.
To contact the editor, e-mail:
Most Popular Slideshows
- Prince William & Kate Middleton Caught Flirting In A Countryside Dinner Date [PHOTOS]
- Kate Middleton’s Mom Accused Of Being A Social Climber, Prince George Not Seen By Relatives
- What Happens When You Give Up Sex For 12 Months? – Dialogue With Peter Lynagh – Exclusive
- 2014 US Open: Hottest Female Tennis Athletes [PHOTOS]
Join the Conversation
- Austin Tops List of U.S. States with Quickest Home Sales
- Analyst: Slowdown in Home Prices is Good, the Final Stage to Economic Recovery
- Film Buff and Real Estate Developer Buys Third Movie House in Greenwich Village
- 3 Basic Requirements to Start Converting Your House into a Smart Home
- 3 Keys to Real Estate Selling Success, According to Aussie Superstar Agent
- 5.5-Inch iPhone 6 is iPhone Air on Sept 19 Release Date: 5 Things to Consider Before Buying
- Nexus 6 Release Date Update: Moto X+1 Look Leaked, Nexus X or Shamu Moved to Demo Phase
- HTC One M8 for Windows Vs. Nokia Lumia Icon, The Battle Of Windows Phones