Are Home Prices Really Rising?

Are home prices really rising? According to the National Association of Realtors, by comparison from this time last year, median home prices posted strong gains in U.S. cities in the first quarter of this year. 29 metropolitan areas posted double-digit increases and the median was up in 91 of 152 areas.

The urban price increase hid a drop of less than 1 percent in the national median price, which fell from $167,300 in the first quarter of 2009 to $166,100 in the recent quarter.

It is obvious that the federal home buyer tax credit helped to stimulate an extra one million home sales during the quarter. That demand contributed to the flattening out of home prices.

By comparison, sales increased from a year ago in 44 states and Washington, D.C. Two states were unchanged, and four posted declines.

For more great reasons to buy a home in 2010, please click on The Best Time to Buy a Home is Now!

If you have been patiently waiting to buy a Hoboken home, now is the time to do it. All of the key factors are in place to ensure that your home purchase will be a major, positive life changing event.  With low mortgage rates available,  this is the opportunity you have been waiting for.  Make 2010 the year you purchase your dream home. For more information contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City.  Eddie can also be reached by phone at 201-344-2886.

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