Good News for the Housing Market

I was encouraged today after reading information from the NAR (National Association of Realtors – realtor.org). During the first quarter of 2008 in the Pittsburgh Metropolitan area, prices have increased 2.4 percent. In the midst of a regular media report of bad news, this is wonderful. It certainly is a great time to buy and sell.

“One out of three the metropolitan areas in the United States showed rising home prices in the first quarter, with only a small number of jumbo loan originations and higher foreclosures resulting in greatly mixed conditions around the country, according to the latest quarterly survey by the National Association of REALTORS®.

In the first quarter, 48 out of 149 metropolitan statistical areas1 showed higher median existing single-family home prices from a year earlier, 100 had price declines and one was unchanged. NAR’s track of metro area home prices dates back to 1979.” – May 13, 2008 from Mixed Home Price Performance Continues in Metro Areas, One-Third Show Gains

View the report showing the Median Sales Price of Existing Single-Family Homes for Metropolitan Areas from the National Association of REALTORS®.

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