West Region Home Prices Likely Up 10%+ in 2013, Northeast Up 3-5% (Cleveland Research)

Posted by Danielle Dani Purcell on Friday, February 8th, 2013 at 3:22pm.

Home prices look poised to increase further in 2013, based on 1) expected builder pricing plans for new homes in 2013 and 2) the current level of existing and new home inventory below historic/median levels
Home prices look to rise at least 6-8% in 2013 (2012 was up 4-5%); how this plays out regionally will be an interesting development to watch through the year
Bottom line, the West looks likely to outperform price inflation in the Northeast by a meaningful amount, something that likely impacts the rate of home volume growth year/year between these two markets as the year progresses
Three key insights below plus a few key charts are above.
  • Income growth in the West is likely to outperform the Northeast as it recovers the extra ground it lost during the crisis
Prices in the West likely increase 10-12% in 2013
Hope You Found This Information Helpful!

Thank You,

Danielle Purcell
Team Laguna Real Estate

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