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Home price growth sizzles in May

Source: Market Watch

home prices

Home prices remained hot in May, bolstering owners’ equity but locking many would-be buyers out of the market.Nationally, prices rose 6.6 percent compared to a year ago, according to a home price index released by CoreLogic. Prices rose 1.2 percent from April to May.

CoreLogic also noted that the cost of rent is growing much faster than inflation – and wages. Overall single-family rents rose 3.1 percent for the year in May, while rental costs in the affordable single-family rental segment of the market, which includes properties with rents less than 75 percent of the regional median, grew by 4.7 percent.

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Community Real Estate is a Real Estate Brokerage committed to provide quality professional services. We are a full service company with in-house lending. We are Realtor®s and HUD approved selling agents. We are expert Short Sales, Listing Agents and Buyers’ Agents. We also specialize in First Time Buyers, Second Homes, Vacation Homes, Investment Homes, Leasing and Rentals, Relocations, Probate sales, Vacant Land sales, Manufacture Homes/Mobile Homes sales, Foreclosures, Distress Properties and REO listings and sales. We support our America’s Heroes. We look forward to meeting you and your needs!
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