Home Prices Continue To Increase; Miami FL Homeowners Regain Equity
Home prices have increased dramatically over the last few years resulting in increased home equity for Miami FL homeowners.
Miami, Florida, April 15, 2015 (Newswire.com) - Home prices have increased dramatically over the last few years and continue to increase, reports Ellen Mitchel, CDPE, RE/MAX Executive Realty.
“Beginning about 2012, the housing market started to show signs of recovery as broader economic conditions improved the U.S. and the recession eased. In 2013, the market improved dramatically. Home prices skyrocketed. We saw a great reduction in the number of distressed properties, which were weighing down prices. Demand also picked up, but there wasn’t enough supply to meet it, fueling price growth even more.”
According to the National Association of Realtors, the national average home price increased 11.5 percent over 2013 compared to 2012, the strongest yearly gain in home prices since 2005.
In 2014, home prices continued to increase, though more slowly. Organizations that track home prices noted increases between 5 and 7 percent.. This year, home prices continue to march upwards, though at a slower, more sustainable pace.
Mitchel says, “The increase in prices has brought many parts of the nation close to their pre-crisis peak prices. For millions of homeowners who found themselves underwater on their mortgages when the market crashed, this is really tremendous news. More than 5 million homeowners have returned to positive equity in recent years, and more continue to join them. Chances are, whatever your situation has been your Miami FL home is worth more than you think.”
As a Certified Distressed Property Expert® (CDPE), Ellen Mitchel is specially trained to help distressed homeowners understand their situation and explore the options available to them.
Ellen has provided a free report entitled “Home Prices Spring Forward” which is accessible from her website EllenHelpsHomeowners.com.
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RE/MAX Executive Realty
1939 Hollywood Blvd
Hollywood FL 33020
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RE/MAX Executive Realty is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.