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Real Estate News – First House Prices Gain in Three Years
Real Estate News Overview:
Home prices rose 0.5% in May from April, according to the Standard & Poor’s/Case-Shiller home price index, which measures changes in the value of residential real estate in 20 cities.
After 16 consecutive months of record year-over-year price declines, beginning in October 2007 and ending in January 2009, the home price index has now shown four consecutive months of smaller annual declines.
Real Estate Investor Coach Response:
Yes, It’s true my fellow real estate investors, it looks like house prices are beginning to rise on a national scale. Please don’t take me as a pessimist, but rather a realist as we look deeper into the statistics. First of all, these statistics are only taken from 20 major cities across the United States and the numbers are averaged together. So, just because the average of these numbers shows a slight increase, it doesn’t mean that people can expect to see year over year appreciation again. Only time will tell what the future holds for the real estate market in our country. Ultimately, this is a good sign and step in the right direction.
What it really comes down to in my opinion in regards to the longevity and sustainability of the housing market are 4 primary things: (1) Consumer Confidence (2) Unemployment (3) Interest Rates and (4) Inflation. Of these three I believe Interest Rates will be the ultimate factor that can directly affect that other 3. It is frightening to know and see the way the government prints money these days and you can mark my words that eventually it will come back to bite and all of us will be effected as a result. Hopefully the government economists know something that I don’t in regards to keeping these 4 items in check.
Until next time, keep the cash flow coming in with creative investing!
To your Real Estate Investing Success,
Brian Evans
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