U.S.
Revival Stands to Influence New City Home
Prices
Home
Prices, Building Numbers Startle Experts
Final
Numbers Confirm U.S. Home Prices Leap
The truism has it that real estate is the
most local of assets. If you exclude California-style earthquakes, the land a
home is built upon tends to stay pretty much in one place. That being the case, New City
home prices tend to reflect our local New City
conditions: when business is popping and everyone feels confident about the
future, New City home prices tend to move
upward.
Even so, as the complete numbers roll in from last year’s
national real estate market, anyone with a rooting interest in New City home prices has to be cheered.
The fact is, American
home prices climbed 5.9% last year – the greatest yearly gain since 2006.
Calling that only a ‘sharp’ rise is like calling the Super Bowl an
‘interesting’ football game. So, even though New City home prices reflect local
conditions, that kind of jump indicates the kind of national movement that is
bound to echo through every corner of the country.
The U.S. Census Bureau
and the Department of Housing and Urban Development also report that new
national housing starts rose in 2012’s final month to an annual
seasonally-adjusted rate of 954,000 (way more than the experts expected). It sounds like a big number, and it is -- an
increase of 12% from the revised November rate of 851,000, and a gain of 36.9%
over the previous year’s 697,000!
The National Association
of Homebuilders also reported a third consecutive six-year high in its builder
confidence index. It’s still below the point NAHB considers builder “optimism”
balances with builder “pessimism,” but moving strongly in the right direction.
Now that we’re at a point where we can look back over
last year’s performance, it’s easy to look back and say “That year sure would
have been a good time to buy or sell!” To me, it looks likely that this time
next year, we’ll have more of the same.
If 2013 is the year you’re considering making a move, I
would be genuinely delighted to put together a plan of action that fits your
goals and your timetable. I hope you’ll
give me a call! Marcella 845 544 4026…riggsmarcella@gmail.com…marcellariggs.com
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