Raleigh home prices to rise 1.3%
Home prices in the Raleigh-Cary metropolitan statistical area are forecast to increase 1.31 percent over the next 12 months despite the impact of distressed sales, according to a new report from First American CoreLogic.
Nationally, the real estate data company projects that home prices will decline in the spring months and that April will be a critical month for the housing market since that is when the federal homebuyer tax credit program is scheduled to expire.
First American CoreLogic’s LoanPerformance Home Price Index for sales nationally is expected to be up 3.5 percent excluding distressed sales; and up 2.7 percent included distressed sales by December. The HPI tracks pricing trends based on analysis of all home sales in 898 counties across the country.
Source: Triangle Business Journal
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