The Register Guard reported today that home prices, on a nationwide average, shot up the most in over 6 years in December 2012, at 8.3% for the month. Low supply of homes for sale, low interest rates and decreasing unemployment contributed to the jump in prices. The states with the greatest real estate price jumps were all in the west.
I find it interesting to compare Lane County to the national trend. We too were up in December, but at a much smaller rate of only 1.8% when December 2012 is compared to December 2011 (182K vs. 178.7K). Rising prices are a good sign and point towards our real estate market in Lane County continuing to recover. If you are interested in Lane County real estate, please contact me.