The August 2014 numbers are out, and while home sales were up, home prices rose at an abysmal 6.7% over August 2013 numbers. Thats the slowest rate in price growth since November 2012.
It’s not all doom and gloom. Even with the slow rate price increase, the numbers are still at least twice the rate of inflation. Looking at the big picture, home values are at 2004 levels according to the S&P.
“Inventory is not at optimum levels, selection is not we would like to see in some markets. But with interest rates still being low, it’s much better to own than rent” This according to real-estate expert Marge Bish of Buyers Advantage Group Realty in Raleigh NC.
A bright light in home values is Las Vegas. The Las Vegas real-estate market was crippled during the recession. Prices rose a healthy 12.8% over last year.
