Home Prices Rise 0.9 Percent in Third Quarter

December 8, 2009

Second Consecutive Quarterly Increase in Home Values Affected All Regions

McLean, VA – Freddie Mac (NYSE: FRE) announced today that its Conventional Mortgage Home Price Index (CMHPI) Purchase-Only Series registered a 0.9 percent quarterly gain (3.8 percent annualized) during the third quarter 2009 for the U.S., following an upward revised 2.0 percent pickup (8.2 percent annualized) in the second quarter and marking the second consecutive quarter of price increase. The increases of the past two quarters erased about two-fifths of the declines registered during the final quarter of 2008 and the first quarter of 2009; over the year ending with the third quarter of 2009, U.S. home sales prices were down 3.9 percent in the CMHPI Purchase-Only Series.

This is good news for my sellers who have been waiting. I feel that through my time spent in the field showing property that the buyers are there and they know what they want. As home prices begin to rise the buyers are more likely to start putting offers before they miss out on the tax credit and incentives.  Please call or email me to discuss the current market value of your home or your real estate questions, 949.922.8148.