It continues to be the better – 8 percent of increase in the year-over-year 20-market. Dallas pull Portland, Denver and Seattle in the Standard & Poor’s latest index of home values that are rising. Seattle and Portland have started to double-digit increment in year earlier and the difference between past year and now is calculated about 12.4% and 11.2% respectively.
“I can say that now, in the housing market, the Pacific Northwest are located in the same area that California in the start of it recovery: so only they, being so successful, can obtain the very good quality of life and income,” said McLaughlin, one of the best economists in the area of real estate, in website Trulia.
So, normally, about 15-18 of the biggest metropolitan cities can show now me and you the rising home prices (about 5.1%) comparing with the results of the last year.
Dallas is one of the several big named regions to comparing it with the year-over-year gains higher: it shows the best results than the national on a average. It was incremented about 8.3% comparing with the summer of 2015.
The chairman of index and director of the S&P Indices Dow Jones, M. Blitzer, says in the statement: the faster acceleration of the prices doesn’t mean one other “housing bubble”.
“Comparing with the record high set, that was in the summer of 2006, now is about 0.6%” he said. “We are talking about the cities (of the 20) that have just set the record highs, so it’s necessary to said that they are only seven…”
How is known, if the level of the overall inflation is below 2%, the pace can’t be sustainable, especially if we talk about the long term. The run-up of financial crisis has how a result the rising of the home prices and the growth of the debt in mortgage.
Blitzer also said us that mortgage debt, comparing with this year in generally, in the first 3 months of the 2008 was augmented in 12%. Also, the outstanding debt in the last year was up more less 2%.
In the opinion of Case-Shiller survey, the prices of Dallas homes are rising about 8% and 10% every year, and the local prices are beating the record: since the 2007, they have raised more than 25% – the named “peak” of housing boom.
“But it doesn’t means that we need to be prepared for the massive collapse,” he said.
The partner of IHS Global Insight in USA, economist K. Reynolds says “Now, especially, in July of this year we are living the historic elevation of prices at least in 5 cities. Including, of course, Portland, Dallas, Denver, Charlotte and Seattle. Also I can say that San Francisco and Boston have exceeded their peaks that reached in the 2005-2006.”
“In August there was the double supply of homes, that are available for the sale since summer of 1995,” said Reynolds.
According to the latest report, the limited inventory of houses is one further evidence that is hurting sales of homes, in spite of the buyer enthusiasm and the low rates of mortgage.
The Department of Commerce has reported that the new sales of home fell in August 7.6%. And the N. A. of Realtors said in this month that the sales for homes that already exists, slipped in the same month of summer 0.9%. Inventory has collapsed 10.1% from last year to 2.04 million buildings.