U..S. Home Prices Showing Consistent Gains

Finally, home prices across the country are showing consistent increases most likely due to a decline in foreclosures and the lowest mortgage rates in history.  In fact, some of the cities hardest hit by the real estate bust have seen impressive price increases: Phoenix up nearly 14 percent, Miami up 4.4 percent. 


Even with these gains, prices have a long way to go to recover from their plunge during the housing bust of 2006-2008.  Nationally prices were down 31.6 percent below the April 2006 peak, based on the S&P/CaseShiller index which covers about half of U. S. homes.
 
And keep in mind we're not yet seeing price increases in the Grand Strand market, though we are seeing more sales.  What's holding us back?  Possibly that we have more second homes and investment properties, categories that have more distressed inventory.