Since 2006, the housing market in the United States has been at a standstill.
However data from the last couple of months shows it may be improving.
Housing prices are going up...and that is a good thing.
“When the pricing of housing goes up, or anything in the market, those prices are market driven. An increase in the price of housing means there is a greater demand. A greater demand means hopefully there are more houses being sold which is good for the economy.” Houston County Chairman Mark Culver said.
Provided by core logic shows in the u-s as a whole, there has been a 3.8 percent increase in housing prices from July 2011 to July 2012.
In Dothan, the past year wasn’t so good, but it was the month of august that gave the city hope.
“And it had two positive notes in the month of august at least one was the fact we sold more homes in august this year than august last year and for a better price.” Prudential Real estate agent Bobby Dean said.
These numbers, locally and nationally show the housing market is starting to make a comeback.
“So an increase in housing costs would just be a part of the recovery.” Culver said.
And even though housing prices are on the rise again, it doesn’t mean it’s a bad time to buy.
“One of the big things in our favor and people are not taking the opportunity is that the current rates are less than three and a half percent.” Dean said.
And Dean says that’s an interest rate that could make house payments manageable.
Core logic also shows the sale of previously owned homes also rose in August.