U.S. Home-Price Growth Climbs at Fastest Rate in Nearly Three Years

Photo of a quaint American Cape Cod Style home on a sunny day with clear blue sky and green grass.

U.S. house prices continued to show no signs of slowing, hitting their highest in nearly three years as demand remains hot, especially in the Pacific Northwest and Dallas.

The S&P/Case-Shiller 20-city index rose 5.9% in the three-month period ending in February compared to the same period a year ago, an acceleration from its 5.7% yearly increase in January. This is the highest rate since July 2014.

The 20-city index was up 0.4% for the month, or a 0.7% gain when seasonally adjusted.

Economists had forecast a 0.8% monthly gain and a 5.8% yearly gain for the 20-city index.

Metro Monthly change (%) 12-month change (%)
Atlanta 0.4 5.6
Boston 0.4 7.6
Charlotte 0.5 6.1
Chicago 0.2 6.2
Cleveland -0.3 4.5
Dallas 1.1 8.8
Denver 0.4 8.5
Detroit 0.3 6.2
Las Vegas 0.4 6.3
Los Angeles 0.4 5.1
Miami 0 6.7
Minneapolis 0.1 5.9
New York 0 3.2
Phoenix 0.4 5.3
Portland 0.8 9.7
San Diego 1 6.5
San Francisco 1.2 6.4
Seattle 1.9 12.2
Tampa -0.5 6.9
Washington 0.2 4.1

 

The national index, which just a few months ago regained the high last seen during the housing bubble of a decade ago, rose 5.8% for the year, a 32-month high.

The largest price increases are still in the Pacific Northwest, including Seattle and Portland. Dallas replaced Denver in the top three with an 8.8% increase.

Only Cleveland and Tampa saw prices fall in the February period. Prices were flat in New York and Miami.

Separately, the Federal Housing Finance Agency also released home-price data for February, which is based on mortgages backed or guaranteed by FHFA-regulated Fannie Mae and Freddie Mac. It showed a seasonally adjusted 0.8% rise for February and a 6.4% year-over-year improvement.

Over 12 months, the Mountain region – Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona and New Mexico – had the fastest growth of 9.5%.

The post U.S. Home-Price Growth Climbs at Fastest Rate in Nearly Three Years appeared first on Real Estate News & Advice | realtor.com®.

I’ve Been an Entrepreneur Since the ’90s-And I Think I’ve Finally Found the Perfect Investment. Hear Me Out.

perfect-investment

This investment isn’t a fad. It isn’t cyclical. And I believe this multi-generational wealth creation vehicle will impact my children’s children.

View the full article: I’ve Been an Entrepreneur Since the ’90s-And I Think I’ve Finally Found the Perfect Investment. Hear Me Out. on on The BiggerPockets Blog. This content is Copyright © 2015 BiggerPockets, Inc. All Rights Reserved.

Boxes Bye: 8 Alternate Packing Materials for Your Move

Alternate Packing Materials

Cardboard boxes are synonymous with moving day, but it’s time we switched up the vocabulary. While boxes may be the go-to when it comes to packing up your belongings, they’re not actually necessary. Yes, that’s right, we’re suggesting you can pack up your entire house without using a single cardboard

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The post Boxes Bye: 8 Alternate Packing Materials for Your Move appeared first on Unpakt Blog.

This week in property management news: April 24, 2017

property management news

Changes coming to the 2017 rental market; Renters care most about smart security in smart homes: Garden style apartments seeing high occupancy rates; Freddie Mac report reveals renters not planning on moving: And, Luxury housing the latest sports stadium amenity.

3 changes coming to the 2017 rental market

Inc. discusses three major trends that are shifting the the rental market.

Renters care most about smart security

While smart home products are a hot topic, smart security is what renters care most about these days. MFE Magazine reports on a recent study showing a high interest for smart locks.

Garden style apartments seeing high occupancy rates

Garden style apartment communities across the country are witnessing rising rents along with occupancy rates. National Real Estate Investor reports on this latest lifestyle apartment trend.

Renters not planning on moving

A recent Freddie Mac study revealed that renters like where they are living and are not planning on moving. Rental Housing Journal highlights key finding from the study.

A new stadium amenity: Luxury housing

Luxury housing is the latest market to take on the business opportunity that comes with stadium complexes. The Washington Post reports on the recent trend.

The post This week in property management news: April 24, 2017 appeared first on Buildium.