FHFA Releases 2nd Quarter 2015 Home Price Index
The FHFA released the 2nd Quarter Home Price Index for 2015. Looking at the breakdown regionally, year-over-year, prices are up across the country. We always like to give you the regional outlook so you can compare different areas of the country.
Breaking down prices by state, we can see that the entire country is experiencing higher prices than the 2nd quarter of 2014. Some states are experiencing double digit gains like Nevada & Colorado, while others like New Jersey (0.1%), Maryland (0.3%) & Vermont (0.5%) have appreciated at a slower rate.
If you have a client who is relocating to another state, it is important to show them the different rates at which home prices are appreciating to show them how waiting to buy could significantly impact the price they pay for their next home.
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At the end of June 2015, home prices continue to go up in Texas. What is even more exciting is that North Texas experienced an even higher growth, 12 percent higher than a year earlier.
Dallas-area home price hikes are the largest in the country, according to a report released by Corelogic. The price gains in North Texas are more than twice the long-term average for the region. They are also about double the national price growth rate.
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