Recent U.S. Home Prices

In the 4th quarter of 2006, home prices dropped in 73 markets out of 149 tracked, and the year-over-year decrease reached the record 2.7%. This is the deepest and most widespread price slump reported by the National Association of Realtors (NAR). In 4 metro areas, prices dropped by more than 10%, the Sarasota-Bradenton-Venice market scoring an 18% decline.

While some markets did show price gains, even double-digit price gains, the rest reported price deceleration or flat growth. The Midwest was affected by the slumping housing market the most, with an average price decline of 4.2%. In the South, houses were sold for 3.7% less than a year earlier, and in the Northeast prices went down 2.5%. The West was the only region to mark price gains in 2006, with houses selling for 0.4% more than in 2005. Honolulu, Little Rock and Binghamton are among the markets where home prices remained flat.

Atlantic City and Salt Lake City metro areas saw highest price gains, with more than 20% increases in single family home prices. Portland-Vancouver-Beaverton, El Paso and Seattle-Tacoma-Bellevue metro areas all ranked above the 10% gain level, while Springfield, IL, Palm Bay-Melbourne-Titusville and Sarasota-Bradenton-Venice all saw price drops of more than 10%. Elmira, NY, the nation’s cheapest market according to analysts, Durham, Appleton, Las Vegas-Paradise, Denver-Aurora and Detroit-Warren-Livonia metro areas all remained within the 0-1% price decline margin.

In the third quarter, only 45 markets reported price drops, but by the fourth quarter that number had reached 74. David Lereah, chief economist with the NAR, said in a statement that he believed the housing slump had reached the bottom in the 4th quarter of 2006. He also pointed out that the market would stabilize at record-high levels soon afterwards. The numbers for the beginning of 2007 have not yet been released, so it’s hard to tell whether his prediction for “improvement in both sales and prices” will prove accurate.

Price decreases were not unexpected after the ballooning growth over boom years. At a certain point, when new construction and speculation activity created an inventory that was way too high for the market, buyers, not sellers, became the market’s driving force. The simple demand vs. supply equation works out that once sales numbers started crumbling, so would prices. This is what happened in 2006. While the NAR predicts improvements early in 2007, skeptics believe the housing market will take much longer to recover from its current misbalanced state.

The median existing single-family home price was $219,300 in the last quarter of 2006, compared to $225,300 in 2005. NAR President Pat V. Combs suggested that home prices should be analyzed in the long term, not on year-over-year basis, since properties are usually owned for 5 years or more. Estimated price gains would then be much higher, because the housing boom and its consequences have not yet finally winded down.

Houses For Sale in Parker, Colorado

The town of Parker in Colorado, located at the southernmost part of the metropolitan area of Denver, has undergone a rapid growth in the past ten to fifteen years. As a result of this, the real estate market of Parker has also experienced a marked change.

Because Parker is located in the metropolitan area of Denver, it gives you access to all the modern amenities right from a good transport system to a good educational infrastructure for your children to luxuries for you to indulge in. Naturally, this makes houses in Parker, Colorado an obvious choice among prospective real estate investors.

A clear sign that Parker’s growth has attracted more people to live in this town is that its population has increased from 23,558, as measured in U.S. Census 2000 to an estimated 43,767 in 2008. This increasing popularity is another sign of the flourishing economy of this town. This clearly is another sign that investing in houses in Parker, Colorado is a good decision.

Parker is served by the Douglas County School District. There are a number of private and public schools in the region that will most certainly impart the best of education to the children going there. The town is also served by a government that is dedicated to providing safety to all its residents as well as all necessary services. The communities offer various activities that are sure to make your life a lot more fun and enjoyable. The town has a recreation center where all the residents can go. There are also numerous jogging, biking and hiking routes in the town that are good for fun filled activities.

All these and other various features make houses in Parker, Colorado popular among buyers. If you are thinking of buying a house in Parker, Colorado you must conduct a proper search so that you are able to strike a deal that maximizes your gain. You may choose from foreclosures, ranch homes, townhomes or condominiums to apartments and new homes. A condominium in Parker will range from $89,900 to $325,000. The current median price of condos is $174,487. Median price of foreclosures is approximately $233,702. Foreclosure prices have experienced a fall in price by 1.3% in the recent time. Home prices have gone down by as much as 5.8%, the median price of homes in Parker now being $325,000. With the real estate prices going down, this would be a good time to invest in Parker homes.

The real estate agent’s knowledge about the local communities will help you judge each property and make the correct choice. With the help of an expert real estate agent, you will be able to conduct you property search efficiently and find the property that fulfils all your needs and also fits into your budget.

Housing Market in Denver, Colorado

Denver, the capital of Colorado, United States is located in the South Platte River Valley on the High Plains. The most populous city in Colorado is Denver, popularly known as the Mile-High City because it is located exactly a mile (5,280 feet) above sea level. According to the United States Census Bureau, Denver’s population in the year 2008 was 598,707. Located between the Rocky Mountain and the High Plains, Denver’s semi-arid climate is prevalent in four distinct seasons that this county sees. In comparison to the mountains in the west, the climate is mild but it is very unpredictable also. The winters vary from being mild to cold accompanied by a significant amount of snowfall. On average, July has the warmest temperatures of the year. Autumn on the other hand, tends to be cold and accompanied by a significant amount of snowfall.

Denver has over 200 parks other than the most famous City Park built over an area of 314 acres. If you are looking for a home of your own where you can settle down peacefully, Denver is one place you should consider looking. A house in Denver, Colorado has an estimated median value of $291,900. With all the amenities of urban life, Denver offers you more than you can imagine. Denver is well connected with other locations with a world-class airport and an efficient transportation system. Denver also has a good public school system and a rich cultural life with numerous parks, museums, auditoriums and opera houses.

There are many suburbs of Denver, Colorado each with a different trend occurring in the real estate market. The houses in Westminster are exhibiting a falling trend in the prices and if you are keen on buying a house, this would be a good time to invest. You can buy homes or condos depending on your preferences. If you want to live in a cozy neighborhood you can opt for a house in Parker, Colorado. A house in Parker can be a condo or townhouse or a residential house. Prices range from $250,000 to $600,000. The houses in Parker, Colorado have seen a rising demand in the recent times, the great schools, recreation centers and beautiful landscapes being the reasons.

Houses in Aurora, Colorado offer great mountain views. Aurora is close to the international airport, which helps its business activities. You can choose a condominium or a home nestled in the mountains. You can even get your dream custom home! Along with Parker and Aurora, Thornton is also a great choice for homebuyers not only for the great facilities but also for the number of housing opportunities it offers. Houses in Thornton range from starter homes to condos to executive homes. With such a wide variety of houses to choose from you are sure to find a house that suits your style of living and your budget. The Denver area has over 200 restaurants; a house here can be like a dream for any food-lover. Denver’s huge population is a reflection of the high demand of houses here.