The following article is a paid West Windsor & Plainsboro News Advertising Feature
While many consumers tend to pay more attention to the real estate market during these warmer months, it’s worth being cognizant of the home pricing trend that was building earlier this year, throughout the cooler weather. For example, home prices even back in February showed a continued, long-term spell upward.
“Home prices continue to rise across the country,” said David M. Blitzer, chairman and managing director of the S&P Dow Jones Indices Index Committee. “The S&P CoreLogic Case-Shiller National Index is up 6.3 percent in the 12 months through February 2018. Year-over-year prices measured by the national index have increased continuously for the past 70 months, since May 2012. Over that time, the price increases averaged 6 percent per year. This run, which is still ongoing, compares to the previous long run from January 1992 to February 2007, 182 months, when prices averaged 6.1 percent annually. With expectations for continued economic growth and further employment gains, the current run of rising prices is likely to continue.”
Lawrence Yun, chief economist of the National Association of REALTORS® also reinforced, “There is no let-up to rising home prices.”
Of course, as you’ve heard time and time again, real estate is local, and market dynamics can vary substantially from area to area. For this reason, it’s critical to consult with a real estate representative who’s familiar with the specific characteristics and activity of the area in which you’re looking to buy or sell.
Looking for the latest home prices and movement? Please call us today! And, remember, up to the minute real estate information is always available at ReillyandCalman.com or Facebook.com/ReillyandCalman.
Donna Reilly and Ellen Calman are affiliated with Coldwell Banker Residential Brokerage in their Princeton office. Donna’s cell number 609-462-3737; Ellen’s cell is 609-577-5777. You can also reach them by email a firstname.lastname@example.org.