30 May Price of Single Family Homes Increase in US
May 30, 2012
The National Association of Realtors reported Wednesday, May 9, 2012 the prices of single-family homes climbed in half of the 146 US cities surveyed during the first quarter of 2012. According to reports, the median sales price increased in 74 of the 146 metropolitan areas measured between 2011 and 2012. This rise accompanies a reported increase in consumer confidence in the housing and public market, as reported by the Fannie Mae April 2012 National Housing Survey. As the economy begins to show signs of regrowth, EB-5 Visa investments are accordingly increasing.
As reports on economic growth, employment and home ownership begin to sum up the first quarter of 2012, the results continue to point toward stability. The US housing market is showing signs of bottoming – the 2.37 million previously-owned homes available for sale within the US sum up to 22 percent fewer than 2011’s statistics. While the economy is still obviously depressed, the first quarter of 2012 undoubtedly shows improvement.
Regions with the best performing home price increases include Cape Coral, Florida (28.1 percent increase from 2011); Grand Rapids, Michigan (19 percent); Palm Bay, Florida (16.9 percent); and Erie, Pennsylvania (16.6 percent).
Regions who displayed the largest declines include Kingston, New York; Stamford, Connecticut; Mobile, Alabama; and Atlanta, Georgia.
The median price of homes included a mix of new construction, previously-owned homes and distressed properties. Homes that sold at discounts, including distressed properties, accounted for 32 percent of Q1 sales, down six percent from last year.
Overall, sales of previously-owned homes within the US increased by 5.3 percent in the first quarter of 2012 compared to the same span the year previous. Home purchases climbed 11.7 percent in the Midwest, 6.6 percent in the Northeast, 4.1 percent in the South and lastly, 1.4 percent in the West.
Undoubtedly a positive step for the US economy, it is recommended to begin investments into real estate-based endeavors. As the competition for EB-5 Visa approval heightens with the incoming tide of investment opportunities, it is likewise important to attain the services of a reputable and strong Regional Center. If you are looking for EB-5 Visa investment opportunities within the South Florida area, New York City and elsewhere within the US, contacting a representative at the Florida Regional Center is recommended.
Florida Regional Center was established as an agent of the 1990 Congress-approved EB-5 Regional Center Program. Based in Palm Beach Gardens and representing projects in the greater South Florida area, Florida Regional Center works with foreign investors and their families to obtain EB-5 Visas and permanent residency in exchange for investments in community development and economy boosting campaigns.
For more information on EB-5 Visas and the EB-5 Visa Program, to learn about Florida Regional Center or to speak with a representative from Florida Regional Center, visit www.visaeb-5.com.