The latest FNC Residential Price Index, an index created for the mortgage industry, recorded a 28-month high for home prices in February, the most recent data available. The index increased 6.1 percent — the fastest rate it's grown since July 2006.
The index shows the strongest price momentum is occurring in Phoenix, where prices have surged nearly 30 percent in the past year.
“The city’s rapid price climb is attributable to active investment purchase of distressed properties that has pushed up overall home prices,” according to FNC.
Many of the hardest-hit markets during the housing crash are showing some of the strongest comebacks. The following housing markets have posted double-digit price gains in percentages year-over-year, February 2013 versus February 2012, according to FNC.
1. Phoenix: 29.3 percent
2. Las Vegas: 14.5 percent
3. Detroit: 13.1 percent
4. San Francisco: 12.3 percent
5. Denver: 11.3 percent
6. Sacramento: 10.8 percent
7. San Diego: 10.6 percent
Author:Brenkus Team Phone: 702-526-2298 Dated: April 16th 2013 Views: 779 About Brenkus: Rick and Teri Have been top producers for over 30 years in the Las Vegas area and have been ranked i...
About Keller Williams Marketplace - Brenkus Realty Network
Rick and Teri Have been top producers for over 30 years in the Southern Nevada and have been ranked in the top 50 agents in the US by the Wall Street Journal out of over 1.3 million agents. They have sold over 4,000 homes in both stable and challenging markets. Their strategies and incredible systems to represent buyers and sellers can not be matched! Sellers enjoy netting top dollar in the least amount of time with their massive marketing and ability to stay ahead of the curve! This Top Producing Team has consistently been in the top 1% of agents Nationally for the last 30 years. They are national speakers and are highly sought after by many who want to get to the next level in their business. They also serve on Professional Standards at the Greater Las Vegas Association of Realtors and are Senior Faculty Instructors. Their list of credentials are endless!
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