The latest CoreLogic Home Price Index Report continues to show good news in the housing market. It also shows why the winter months could be the best time to buy all year.
Three facts to focus on:
- Housing Price Index only increased 0.2% from September to October and 0.1% from October to November. This is a rather low increase although not out of the ordinary for this time of year. It means that prices did not go up very much during those months.
- November’s 11.8% HPI increase represents the 21st consecutive month of year-over-year increases in the Housing Price Index. This means that prices have been climbing steadily for almost two years now.
- Home prices remain 17.3% below the April 2006 peak. This means prices will likely continue to increase though those increases may begin to slow as we approach the 2006 peak price.
Taken together, these facts show that the remaining winter months of 2014 are a great time to purchase a new home in Placer & Nevada Counties, Calfiornia. In the long-term prices show no sign of decline but for the remaining winter months that rate of increase will remain low. Get in now before springtime demand brings prices up and watch your home appreciate in value for 2014.
If we look at CoreLogic’s Historical Data it shows that the national month-to-month increases in housing prices were 0.7% for January 2013, and all the way up to 1.5% in February 2013. So this winter lull in price increases won’t be lasting long.
John LaRosa, PHA Realty Director of Marketing