US Monthly House Price Index Declined 1.6% January 2011 to February 2011, according to the Federal Housing Finance Agency’s monthly House Price Index. A previously reported 0.3% decrease in January was revised to a 1.0% decrease.
On a year-over-year basis, US house prices declined 5.7% in February 2011. The US Index is about 18.6% below the peak of April 2007 and is about the same level as the February 2004 index level.
With prices continuing to decrease, I think now is a good time for those seeking to purchase a home to begin looking. In my view, the market isslowly decreasing in price and should reach a trough level within the next 12 months-to-18 months; this assumes similar economic trends that we are seeing now.
Each market within the US and each sub-market behave in a slightly different manner. For that reason, I suggest working with a real estate professional that knows respective markets. Although I follow the real estate market on a macro-level, I specialize in the South Florida real estate market.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me. Please text me your name, phone number and e-mail address to the number below and I will provide information requested.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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Hi friends,
ReplyDeleteThe US Federal housing finance agency publishes the HPI inx, a quarterly broad measure of the movement of single-family house prices. The HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties in 363 metropolises. Thanks a lot.......