Sanibel real estate blog: HOME prices continue gain

Standard & Poor’s/Case-Schiller index was reported this week  and they are saying that home prices continued to surge in May, jumping 12.2% since last May. This was the biggest annual gain since March 2006.

The price increases were widespread. All 20 cities reported on showed gains, with Dallas and Denver reaching the highest level on records dating back to 2000. San Francisco showed the strongest year over year gain up 25.5%, followed by Las Vegas( 23.3%) and Phoenix (20.6%). The weakest increases were in New York (3.3%), Cleveland (3.4%) and Washington D.C. ( 6.5%).

Every area has its own story, but gains throughout the country will definitely help sales in Southwest Florida. Many buyers are waiting on a sale of a home elsewhere to be able to make the move to the Sunshine State, or to pick up a second condo or home at the current prices.

If you have an interest in purchasing or just want to check out the Sanibel real estate market, give us a call at 239-849-3396 or check out the listings on our website at www.chuckandrews.com

 

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