New information from the S&P/Case-Shiller national home price index shows the average prices of homes in July 2012 rebounded to the same levels as July 2003. The typical home price has risen by 5.9% for 2012 to date. It marks the third straight month that prices in all 20 major markets have improved, and we continue to see growth in year-over-year changes.
This news continues to confirm the upward trends we have seen in the housing industry. The Wisconsin housing market continues to show even more growth, with 32.4% greater sales than July 2011. With foreclosure activity and inventories down, home sales at higher values have furthered the growth during 2012. Record-low mortgage rates, currently at 3.25%*, have also created great incentives for buyers in the market. For more information or questions about mortgages, contact Wisconsin Mortgage Corporation.
With the real estate market on the upswing, now is a great time to invest. Contact a Shorewest agent to start your home search today.
*3.25% 30 year Fixed-Rate Mortgage with 0.0 points