Tuesday, July 16, 2013

What Caused the Recent Home Price Increase?

Home prices continue to rise and even reached a record increase recently. That's the bottom line of a recent release of the S&P/Case-Shiller Index.

What happened? 
  • The S&P/Case-Shiller 20-City Composite Index rose in April to beat expectations with a record 12.1 percent increase over the past 12 months. All 20 cities showed positive year-over-year returns for at least the fourth consecutive month. In addition, the following cities continued to show double-digit annual gains: Atlanta, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, Phoenix, Portland, San Diego, San Francisco, Seattle and Tampa. 
What is the S&P/Case-Shiller Index?
  • The S&P/Case-Shiller Home Price Index is the leading measure for the U.S. residential housing market. The report tracks changes in the value of residential real estate both nationally as well as in 20 metropolitan regions. 
What does it mean?
  • The overall trend looks good for the housing market and the economy as a whole, as home prices have continued their rise. However, it's important to remember that all markets are unique, which means each local housing market may have its own trend.  If you have specific questions, we can help you understand the Lake of the Ozarks Housing Market. That means now is a good time to not only keep an eye on the national trend, but also to reach out to your Lake of the Ozarks Mortgage Lender to answer your questions and help you make an informed decision about purchasing a home at Lake of the Ozarks.
We would love the opportunity to work with you on your Lake of the Ozarks Mortgage Loan or refinance.  Give me a call at (573) 746-7211 or send me an email at mlasson@fsbfinancial.com with any questions you may have!!

For Lake area news, resources and tips on financial services, please 

Michael Lasson
Sr. Residential Mortgage Lender

2140 Bagnell Dam Blvd, Suite 303B
Lake Ozark, MO 65049
Direct:  (573) 746-7211
Cell: (573) 216-7258

Fax:(573) 693-9141
Email:  mlasson@fsbfinancial.com
NMLS #: 493712

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