HOME PRICES JUMP 9% FOR NON-DISTRESSED HOMES

Home prices rose 9 percent year-over-year for the first quarter of this year, according to FNC, Inc.’s Residential Price Index, which measures sales activity for non-distressed homes in the 100 largest metros in the country. On a monthly basis, prices rose 0.6 percent in March.

On an annual basis, Western states continue to lead the nation with drastic price gains. FNC reported a 40 percent rise in prices in the sand states over the past two years.

On the other hand, the Midwest has experienced very little price relief since the start of the recovery, according to FNC.

In the FNC 30-MSA Composite, Sacramento, California (26.8 percent); Riverside, California (21.8 percent); and Las Vegas (21.3 percent) posted the greatest price increases over the year in March.

Only two of the 30 cities posted price declines year-over-year in March: St. Louis (-0.5 percent) and Cleveland (-2.9 percent).

In addition to rising prices among non-distressed homes, FNC reported declining foreclosure sales and smaller discounts in asking prices. Foreclosure sales made up 12.6 percent of sales in April, down from 13.4 percent in March, according to FNC.

Additionally, asking price discounts in April averaged 2.0 percent, down from 2.6 percent in March.

Non-distressed sales are rising “moderately,” according to FNC

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About thenoelteam

As a Broker with RE/MAX Alliance, I work energetically for my clients whether they are a buyer or seller. I help you achieve your goal of owning a home or getting the best price for your home in the shortest time possible. After graduating from UCLA with a degree in communications and finance, I was licensed in 1977 and since then I have sold over 3600 properties amounting to over $1 billion in sales. I currently rank in the top 10 in home sales for Colorado. I offer the same quality of service and superior communication to all clients, ranging from starter homes to multi-million dollar estates, commercial and income properties, relocations and foreclosures My goal is to provide you with the best representation possible whether you are buying or selling. Over the years, one of the things that I've discovered is that there is a difference in the way individual Realtors do business. For me, I have always felt that honesty and personal integrity are the foundations upon which a successful business and career are built and sustained. I have an extensive background and knowledge base in real estate, including financing, which has enabled me to provide outstanding, quality advice and service not found with many agents today. My commitment to communication creates a positive relationship between my client and myself that results in a successful property sale or purchase. My passion for real estate, commitment to my clients and personal integrity has helped me to achieve success placing me in the top 1% of all brokers in nationwide. In my career, I have earned a number of awards and received considerable recognition for my success but the most significant recognition comes from the fact that over 75% of my business comes from past clients. My success is a true measure of my client satisfaction.
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