According to Clear Capital's most recent Home Index Data, property values throughout the U.S. are showing quarterly improvement.
While quarter-over-quarter prices were down 4.9 percent during April, Clear Capital discovered increased transactions during the last 30 days, more as buyers are emerging from the recent bad weather to purchase homes. In fact, since the end of April, the quarter-over-quarter decline was nearly cut in half, now just a 2.3 percent decline. Year-over-year, prices are down 7.6 percent, which puts values on the same level as they were in 2000.
The regional declines also slowed, as the values of properties in the Northeast, West and South also decreased by just under 2 percent.
While the natural real-estate-owned saturation rate declined by 0.6 percent, the figure still remained high at 33.9 percent.
"The latest Market Report results through May suggest that home prices are starting to ease back from the heavy declines seen over the winter," said Alex Villacorta, director of research and analytics at Clear Capital. "We are still far away from the strong demand needed to fully turn things around for the housing market; however, it is clear from the initial spring sales data that prices are softening, suggesting stabilization in the market."
The Houston real estate market experienced its own gains recently, as both median prices and inventory increased during May, according to Altos Research.
Courtesy of 2M Realty News