Real Estate Marketing Insider comments on the new data indicating that home prices have increased in three quarters of American cities over the last six months.
La Jolla, CA (PRWEB) August 10, 2012
REMI issued their observations on the roughly three quarters of American cities that have reported increased housing prices over the last two quarters today, and their opinion is that this will help home sellers due to real estate prices increasing, which helps people who are underwater increase the value of their homes. REMI offers their assistance to real estate agencies and home sellers that need help advertising real estate.
Single-family homes have seen an increase in prices over the last two financial quarters, according to the National Association of Realtors. These prices seem to indicate a broad, rather than a regional trend, as positive reports have come in from seventy-five percent of American metropolitan areas. This does not mean that there will be a complete turnaround even in the best real estate markets, since many major areas, like Stamford, Connecticut, have seen sharp decreases in prices. There is also the threat from a large number of foreclosed properties hitting the market and decreasing prices further, but experts are not sure how big the threat is.
Aside from being the most massive business organization in the United States, the National Organization of Realtors (NOR) is also a prominent lobbying group. Chicago, Illinois, was the original home of NOR when it was founded over a century ago. Aside from real estate agents, NOR is also composed of real estate brokers, appraisers, property managers, and a number of other professionals who are connected with the real estate industry. The National Association of Estate Agents (NAEA) is the UK version of this organization. Estate agents are equivalent to US real estate brokers.
Stamford, Connecticut was founded by English settlers in the 17th century and has since grown to become a major American city. Its proximity to New York City makes it part of the Greater New York Metropolitan Area with many citizens who commute from Stamford to New York. There are several major corporations with headquarters in Stamford, including such diverse groups as World Wrestling Entertainment and Tasty Bite.
A metropolitan area is made up of a hub city, like New York City, as well as the surrounding counties, cities, towns, and other areas. There is an economic connotation to the term, as a metropolitan area can include areas that are rural in nature, but are connected to the larger economy of the nearest large city. There are different definitions of a metropolitan area that vary by country, but in the United States, they must have a core urban area with at least fifty thousand residents.
Real Estate Marketing Insider today commented on the recently revealed data from the last two financial quarters that indicates that seventy five percent of American metropolitan areas have reported a rise in prices for single-family homes. This data, while positive, is tempered by several unknown variables, including foreclosed homes that may still enter the market.
About Real Estate Marketing Insider:
Real Estate Marketing Insider is a publication aimed at supplying real estate professionals with strategies, market analysis, and other information. REMI is headquartered in La Jolla, California.
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This article (Second Quarter Data Reveals that in 75% of American Cities, There Has Been an Increase in Housing Prices) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.