When real estate occupies most of your day (as it certainly does mine), you find yourself receiving no end of information. Some summarize points of view that are available elsewhere; some provide original information that isn’t particularly relevant to our local market.
One piece that gets more than the usual quick-scan-then-into-the-recycle-bin treatment is the HPI Data Report. It comes in once each month from the demographers at CoreLogic ®. This group knows what they are talking about: among other things, they collect the most comprehensive property database in the U.S.
Here are some interest statistics from the report.
• Prices of homes for sale nationwide made the biggest year-over-year increase in seven years!
• Year-over-year, even including distressed sales, prices of homes for sale jumped by an average 9.7% That’s just a whisker short of double-digits!
• Those homes for sale price jumps were taking place everywhere — in 49 out of the 51 states (the only exceptions were Illinois and Delaware).
As if the trend direction isn’t already crystal clear, this represents the 11th consecutive monthly increase.
As we prepare for Bainbridge Island’s spring selling season, it’s noteworthy how much this year promises to be a notch up from even last year’s —already a noticeable improvement.
If you have a property that is a good candidate to join this spring’s complement of Bainbridge Island homes for sale, now is a good time to give me a call. Rising prices mean that the buyers are out there!