The latest report from Case-Shiller Home Price Index is somewhat encouraging. The gauge, which measures home prices in the 20 largest US cities, rose by 0.3% in December marking the seventh consecutive monthly increase.
According to a 4th Quarter report by Zillow, an online real estate database company, American homeowners’ confidence in their own home’s value fell to the lowest level in seven quarters. The report went on to say that in reality 28% of homes increased in value during the year. If we took a poll locally I believe the majority of home “owners” would say that their home values have changed very little. On the other hand home buyers will tell you another story.
The chief economist for Zillow said that “It does appear that many homeowners are finally succumbing to the notion that, in most areas, declining home values over the past year are no longer the exception, they are the rule”.
But here is another interesting poll result - almost three times as many people believe their home’s value will increase over the next six months as believe it will decrease in value. I like their optimism; let’s hope this will be the case.
Overall our area has performed well albeit the real estate market is not what it was nor do most of us expect it to return to the high-flyin’-days of five to 10 years ago.
Locally there has been a good flurry of business in the lower end residential market as well as the commercial market.
I always appreciate your input – give me your thoughts on home values in our area, I would be interested to hear what you think?
Have a great weekend and a safe one as we welcome the Birkie brigade!
Life is a Gift…Live It!
Gary Nathan
Amanda Mavis
Woodland Development & Realty
15563 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
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