Linda Craft Commentary: Home Prices Continue to Increase Homeowners Regain Equity
Home prices have increased dramatically over the last few years and continue to increase in the Greater Triangle area, as Linda Craft, CEO of Linda Craft & Team, REALTORS® & Certified Distressed Property Expert (CDPE) explores in this commentary.
“Beginning about 2012, the Raleigh area, and the U.S. housing market started to show signs of recovery as broader economic conditions improved the U.S. and the recession eased,” said Craft. “Home prices skyrocketed. We saw a great reduction in the number of distressed properties, which were weighing down prices. Demand also picked up, but there wasn’t enough supply to meet it, fueling price growth even more.”
According to the National Association of Realtors, the national average home price increased 11.5 percent over 2013 compared to 2012, the strongest yearly gain in home prices since 20051.
In 2014, home prices continued to increase, though more slowly. Organizations that track home prices noted increases between 5 and 7 percent2.This year, home prices in nationally, and in the Raleigh-Durham-Chapel Hill area, continue to march upwards, though at a slower, more sustainable pace.
“The increase in prices has brought many parts of the nation close to their pre-crisis peak prices,” according to Craft. “For millions of homeowners who found themselves underwater on their mortgages when the market crashed, this is really tremendous news. More than 5 million homeowners have returned to positive equity in recent years, and more continue to join them. Chances are, whatever your situation has been your home is worth more than you think.”
As a Certified Distressed Property Expert® (CDPE), Linda Craft is specially trained to help distressed homeowners understand their situation and explore the options available to them.
Linda Craft has provided a free report entitled “Home Prices Spring Forward”. It is accessible from is accessible from her website, http://www.raleighrealestateforeclosures.com at: http://www.raleighrealestateforeclosures.com/Home-Prices-Spring-Forward.aspx.
For more information about the CDPE Designation, visit www.CDPE.com.
About Linda Craft & Team, REALTORS®
Linda Craft & Team, REALTORS® is a locally owned residential real estate firm who has served Triangle homeowners for 30 years. The team mission and focus is market knowledge plus raving fan customer service to ensure a smooth sales process. The team is the NHL Carolina Hurricanes Corporate Real Estate Partner, Raleigh Athena Powerlink and American Red Cross sponsor.
For more information or to schedule an appointment with Linda Craft & Team, REALTORS®, please call 919-235-0007 or visit www.lindacraft.com