Monday, June 18, 2012

Real Estate News for June

English: Change of the Case-Shiller Home Price...
English: Change of the Case-Shiller Home Price Index relative to its peak values in 1989 and 2006. Series starting in 1989 is in blue. Series starting in 2006 is in red. (Photo credit: Wikipedia)
Quite a bit has happened in the real estate industry since the start of the year. Many more people are searching for homes to buy, which is a great sign that home prices will continue to increase in the coming summer months. The expected jump in home prices is not all that substantial, estimated between 0-1%, which is both good and bad. The good news is that a small increase like this one is a safe increase, and a huge decline is much less like than if prices were expected to rise by say 5%. The bad news is that the prices may not be enough to keep some real estate businesses afloat, and the increase is certainly not uniform throughout the country and even within miles of certain communities, home prices can range in the millions.