Prices rose by 8.1% in January from a year earlier, the largest such gain in 6½ years, according to figures from the S&P/Case-Shiller index of home prices in 20 major metropolitan cities released Tuesday. All 20 cities posted annual increases.
Economists at Morgan StanleyMS +0.32% now expect prices to gain 6%-8% this year, up from an earlier forecast of 4%-6%. Lawrence Yun, chief economist at the National Association of Realtors, raised his forecast to 7% from 4% because he expects inventory shortages will persist.
For anybody in the real estate field or new buyers, does this hold true in our area as well?
Ive been looking at house im up north around the sacandaga. House prices are down right now unless they have lake front. Ill have to watch i dont wanna miss a good deal while the price is down
Right this moment homes are selling like they did in 05. Its a major sellers market right now. There isnt enough inventory for buyers. If youre looking for a home anywhere in North/South colonie expect to pay asking price or be involved in a multiple offer. Homes are selling in DAYS. Outskirt regions are still holding value as well but not selling as fast.
Market is unreal right now. My phone has not stop ringing in 3 weeks.
Few weeks ago, our office had 50 pendings alone… I’ve been showing houses and picking up new clients everyday. To say people are buying and selling is a understatement.
He wants to be able to make money off his house if/when he sells it, I’m the same way, have been in my house for almost 3 years and I hope the value continues to go up as I keep things up to date with the house.
Yea dude, thinking long term now. Looking for sustainability and opportunity for long term growth. I’d love to get into real estate investing now since it seems to be a bit less risky than what I’m doing now. Same reason I got a job. I want my future kids to not have to worry about a thing growing up.
