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By Bud Zeller | Broker in Placerville, CA

Home Prices 'Poised for Growth' in 2013

Home-listing prices were up 5.1% nationally in December on a year-over-year basis, according to data released Thursday by real-estate listings and data company Trulia. Out of the 100 major metro markets covered by the report, 82 of them saw year-over-year gains. At the end of 2011, asking prices had fallen 4.3%, and only 12 markets had posted positive price changes.

“Prices are going into 2013 with strong tailwinds,” said Jed Kolko, chief economist for Trulia. He cites a general strengthening of the job market, which in turn means more families able to cover a sizeable down payment. An increase in household formation, which is also the product of improving job prospects, and home construction could further bolster demand.

Mr. Kolko notes that the sharpest tightening of inventory is taking place in Western states. Four of the top 10 cities to see the largest asking price recovery were in California, including Oakland, San Jose, Sacramento and Fresno.

Read the full story at: http://blogs.wsj.com/developments/2013/01/03/report-home-prices-poised-for-growth-in-2013/?mod=WSJ_3Up_RealEstate


By Helen Oliveri,  Sat Jan 12 2013, 12:57
Great blog!
By Bud Zeller,  Sun Jan 13 2013, 19:58
Thanks for your comment.

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