U.S. Home Prices Jump the Most Since May 2006

1 05 2013

Home prices are rising at the fastest pace since May 2006, making it difficult for the first-time buyer to close a deal.

U.S. home prices rose from a year ago in all 20 cities that the Standard & Poor’s/Case-Shiller index tracks.

NBC’s Diana Olick reports: http://www.nbcnews.com/video/nightly-news/51340582#51340582

The Northeast Florida real estate market continues to improve, with smaller inventory levels and strong demand pushing prices up. Sales were up 19.2 percent from the same period last year and median sales price was up 16.4 percent from previous year.

Another change is buyers are shifting demand from distressed properties to conventional homes, the Northeast Florida Association of Realtors (NEFAR) reports.

Here are some of the key stats:

  • Median sales price was up 16.4 percent year-over-year to $139,650
  • Closed sales were up 19.2 percent to 4,541
  • Inventory of homes for sales was 7,825, down 31.9 percent
  • Pending sales were up 37.7 percent, to 6,240

Read the full report from NEFAR.

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