Home Prices Have Jumped

Property Tax Reduction Consultants 

125 Jericho Turnpike, Jericho, NY 11753

516-484-0654 or 631-484-0654

www.PTRC.com

This past April, single-family home prices saw their largest annual gain in seven years. The S&P/Case Shiller composite index of 20 major metropolitan cities showed a price jump by 12.1% this year, exceeding expectations and marking the largest yearly gain since March 2006. This jump is due in part to fewer foreclosures, investor help, and less homes on the market. Cities such as Atlanta, Detroit, and Dallas have seen their largest ever increase in housing prices. San Francisco hit the high with a 23.9% gain this past year.

Unfortunately, there has also been a spike in mortgage rates, leading some to believe that the housing sector’s recovery efforts may come to an end. However, David Blitzer, chairman of the S&P Dow Jones Indices’ index committee, believes that “home buyers have survived these rising rates in the past” and that “the recovery should continue” due to some banks lessening credit restrictions.

Click here  to read the full article and see how the housing sector is doing on its road to recovery! For further property concerns, let PTRC help you pay the lowest property taxes possible. Visit our website at www.ptrc.com or call us at (516) 484-0654 for further information.