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Housing rebound continues

Home prices increased 12.4 percent in July compared to a year earlier. This is an indication of a housing market that is favoring sellers even amid the limited number of homes for sale. Home prices increased in nearly every state for the past year, with Tacoma prices increasing 8.5 percent for July 2013 compared to a year prior. Real estate data provider CoreLogic said that current home prices are now within 18 percent of what they were at peak level in April 2006. Just from June 2013 to July 2013, there was a 1.8 percent increase on home prices. This increase represents the 17th straight month in which prices have risen nationwide. Low mortgage rates and consistent job gains have contributed to the increase in more individuals making home purchases. Also on the rise for the past year, is construction spending on new homes and businesses. With the slow rebound of the housing market, now may be the time to search for your new home.

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