National Rise in Home Prices bring Opportunity for Daytona Beach

Clear Capital reports that national year-over-year home price gains climbed to 6.8%, quarter-over-quarter losses are trimmed to -1.8% and the national REO saturation rate dropped to 27.8%, a 14 percentage point improvement compared to the same time last year. "We continue to see sustained price growth throughout much of the country with yearly price gains reflecting the housing recovery off of last year's lows," said Dr. Alex Villacorta, Senior Statistician, Clear Capital.

He continued, "It is interesting to note, however, that this current momentum is a far cry from where we were a year ago," added Villacorta. "In June of last year, we reported a national yearly decline of 19.3 percent, whereas the present report shows a 6.8 percent gain. Similarly, the present REO saturation rate of 27.8 percent is a significant improvement from last year's 41.7 percent. This dramatic shift in price trends reflects the unprecedented volatility over the last couple of years and the delicate state of local real estate markets around the country."

This month's improvement is reflected across all four U.S. regions, with the Midwest experiencing the largest jump (4.5 percentage points). While quarterly prices remain negative in three of the four regions, yearly gains remained intact.

Although real estate prices continue to decline in our Daytona Beach area, this offers outstanding opportunities for investors and owner-occupant buyers. Contact me for real estate information on any Daytona Beach community or condo complex.

Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
www.ormondbeachscene.com