Recent statistics indicate that housing prices may, generally, be trending in a particularly seller-friendly direction here in America.
The statistics regard how the selling price sellers who sold their home here in the U.S. last month compared to the sellers’ initial purchase price for the home. The study found that sellers in the U.S. averaged a 17 percent price gain last month when it came to selling price. For the purposes of these statistics, a price gain means the selling price exceeded the initial purchase price.
No month has seen this high of an average price gain percentage here in the U.S. since 2007.
Now, what sorts of price gains sellers saw varied from market to market across the U.S., with some markets even averaging price losses (a price loss is when selling price is below initial purchase price).
The Phoenix-Mesa-Scottsdale area was among the areas that saw an average price gain for home sellers. In fact, the average price gain in this market was a good deal higher than the national average. Specifically, the Phoenix-Mesa-Scottsdale market averaged a 29.4 percent price gain when it came to March home sales.
One wonders what this trend of relatively high price gains in the general Phoenix area and in the U.S. as a whole will have on real estate market activity. One wonders if there will be an increase in individuals looking to sell their home as a result of this trend.
What price they might be able to get for their home is understandably something individuals looking to sell their home generally care about considerably. However, it important to note that this is far from the only thing it is important to give proper attention to when selling a home. For one, there are many different legal issues that can impact how efforts to sell a home will go. Thus, when selling a home, a home seller may want a skilled real estate attorney’s help when it comes to legal matters related to the sale.
Source: HousingWire, “Home prices see highest increase since 2007,” Kelsey Ramírez, April 20, 2016