We recently took at look at CoreLogic's HPI report for April. It showed that Home Prices nationwide, including distressed sales, have increased by 12.1 percent! This is on a year-over-year basis, comparing April 2013 to April 2012. This is the biggest year-over-year increase since February 2006!
April was the 14th consecutive month to see an increase in home prices. Over the past few years, because of the recession, home prices have dropped significantly. This is one of the reasons why so many have faced foreclosure. Their homes were suddenly worth much less than they owed on them and they were unable to sell them. Once the unemployment rates went up as well, people struggled!
We are thankful now that everything is stabilizing once again. We've helped so many people to refinance their mortgages which gives them better rates and a lower monthly mortgage payment. Many have avoided foreclosure because of this. Now that home prices are increasing, fewer people find themselves "underwater" and can sell their homes for a decent price.
If you find yourself struggling to make your payments, consider refinancing! Visit us at CrossCountryMortgages.com or call 888-883-5252. We can help!
Wednesday, June 5, 2013
Home Prices Continue to Increase!
1 comments:
Really a nice blog. Carry on All the very best for the future.
MI Mortgage rates
Post a Comment