Paul Davidson , USA TODAY Published 10:53 a.m. ET May 30, 2017 | Updated 8:36 a.m. ET May 31, 2017
These are heady days for American home sellers, with a report Tuesday showing that housing prices in March recorded their largest annual increase in nearly three years.
But the gains are inflicting more financial pain on home buyers, though the price run-up has fallen well short of the annual double-digit increases during the mid-2000s housing bubble.
Home prices across the U.S. were up 5.8% annually in March, up from 5.7% the prior month, according to the S&P CoreLogic Case-Shiller national index.Driving the increase were a longstanding shortage of both new and existing homes combined with steady job and income growth that's prompting more Americans to buy houses for the first time or trade up.
The pace of price gains has accelerated in 2017 after year-over-year increases held fairly steady at a healthy 5% or so from 2014 to 2016.
“Home buyer demand is sky high, inventory levels are near rock-bottom and home prices keep rising,” says Svenda Gudell, chief economist of real estate research firm Zillow.
In our Series of events with with be opening the conversation on Bankruptcy and how it impacts the real estate transaction. We are honored to have Jason Gaudy of Gaudy Law out with our Underwriters to discuss the implications, and how to work through these issues.
Class will be in session, and it is our goal to help our clients navigate through challenging transactions with ease through EDUCATION! Join Us for our next installment! #CreateYourOwnLuck
Please join us for our monthly "Meeting of the Masters" class! Our topic will be; Understanding Probate from a Legal & Title Perspective. We will have some guest speakers including Probate Attorney Jason Gaudy of Gaudy Law! Hosted by Team Title guy of Ticor Title. Please RSVP!