Why Real Estate Prices Have Been Surging

The real estate business is estimated to continue to improve throughout the year 2013. With a more stable job market and lower mortgage rates, the public’s demand for better housing has led to an increase in housing prices. With a 29% rise in sales this May compared to May 2012, the prices of new homes have escalated with rates that have not been seen in 7 years. While the prices of homes currently remain 26% below what would be considered a pricing peak, the current economic improvement as well as an increase in interest rates has made evident the recovery within the real estate industry.

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POSTED June 27 2013 2:53 PM

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