The American housing market has seen major fluctuations since the start of 2020. CoreLogic’s House Price Index recently revealed that while Western states saw an annual decline in sale prices, Midwestern and Northeastern states continued to experience growth.
In particular, the Midwest region reported a 10.6% year-over-year increase for its property sale prices in the first quarter of 2021, which is the largest reported growth for any region during the same period. The Northeast region also posted strong growth at 9.2%, significantly outpacing the 4.7% increase in the South and the 3.4% decrease in the West. Lower mortgage interest rates, increased demand, and limited housing stock are factors that have helped to drive up the home prices in the Midwest and Northeast regions, despite the economic downturn caused by the pandemic.
Important Elements of the Text:
– Western states have experienced an annual decline in sale prices
– Midwestern and Northeastern states have seen growth rates in sale prices
– Midwest posted strongest growth at 10.6%
– Northeast posted strong growth at 9.2%
– South property sale prices increased by 4.7%
– West property sale prices decreased by 3.4%
– Low mortgage interest rates, increased demand, and limited housing stock have contributed to the increased sale prices
You can read this full article at: https://www.housingwire.com/articles/datadigest-where-housing-prices-are-booming-and-faltering/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
Share This Story, Choose Your Platform!
Related Posts
Disclaimer
The information provided in this article is for general educational and informational purposes only and does not constitute legal, financial, investment, tax, or professional advice. Note Servicing Center, Inc. is a licensed loan servicer and does not provide legal counsel, investment recommendations, or financial planning services. Reading this content does not create an attorney-client, fiduciary, or advisory relationship of any kind.
Nothing in this article constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation regarding any security, promissory note, mortgage note, fractional interest, or other investment product. Any references to notes, yields, returns, or investment structures are illustrative and educational only. Past performance is not indicative of future results, and all investments involve risk, including the potential loss of principal.
Note investing, real estate transactions, and lending activities are subject to federal, state, and local laws that vary by jurisdiction and change over time. Before making any decision based on the information in this article, you should consult with a qualified attorney, licensed financial advisor, certified public accountant, or other appropriate professional who can evaluate your specific circumstances.
While we make reasonable efforts to ensure the accuracy of the information presented, Note Servicing Center, Inc. makes no warranties or representations regarding the completeness, accuracy, or current applicability of any content. We disclaim all liability for actions taken or not taken in reliance on this article.