The Jacksonville real estate market is gearing up for some major changes, and smart real estate buyers are taking advantage of the situation. Much of the rest of the country is already experiencing a rising House Price Index, which is showing a month-to-month increase for the first time in more than a year. You can get in on lower property prices right now. Traditions Realty will help you to buy Jacksonville real estate before the Florida House Price Index follows the current trend.
A rise in the Florida House Price Index will be opportune for those who already own Jacksonville real estate and plan to sell. In the meantime, Traditions handles homes for rent in Jacksonville and can help you to get the most out of your investment. Whatever your current situation, it does not pay to sit around and wait – act now! Read more below
FHFA House Price Index rises 0.8% in April
WASHINGTON – June 22, 2011 – House prices rose 0.8 percent on a seasonally adjusted basis from March to April, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. It was the first month-to-month price increase since May 2010.
The previously reported 0.3 percent decrease in March was revised to a 0.4 percent decrease. For the 12 months ending in April, U.S. prices fell 5.7 percent, and the U.S. index is 19.3 percent below its April 2007 peak and roughly the same as the January 2004 index level.
The FHFA monthly index is calculated by using the purchase price of houses sold to or guaranteed by Fannie Mae or Freddie Mac.
For the nine Census Divisions tracked during the March-April period, seasonally adjusted monthly price changes ranged from -1.3 percent in the Mountain Division to +2.2 percent in the New England Division.
Florida, which is in the South Atlantic division, was one of only three to show a price drop with -0.2 percent.
© 2011 Florida Realtors®