Prices rise 8.6 percent in North Port-
Bradenton-Sarasota market
By Matthew Sauer , Herald-Tribune
/ Tuesday, July 7, 2015...
of 1

Prices Rise 8.6 Percent in North Port- Bradenton- Sarasota Market

Published on: Mar 4, 2016
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Transcripts - Prices Rise 8.6 Percent in North Port- Bradenton- Sarasota Market

  • 1. Prices rise 8.6 percent in North Port- Bradenton-Sarasota market By Matthew Sauer , Herald-Tribune / Tuesday, July 7, 2015 Home prices in the North Port-Bradenton-Sarasota market rose 8.6 percent from May 2014 to May 2015, while prices nationally climbed 5.1 percent, a real estate data provider reported on Tuesday. CoreLogic Inc. said that, including distressed sales, the prices of homes in the market were up 1.3 percent in May from April. Taking out distressed properties, year-over-year prices rose 9.1 percent while month-to-month prices rose 1.7 percent. The Charlotte County market saw a 10.5 percent increase year over year while rising 1.9 percent month to month, according to CoreLogic. Taking out distressed properties, year-over-year prices rose 9.2 percent while month-to-month prices rose 1.8 percent. Nationally, home prices rose 6.3 percent in May when compared with the same month a year ago. That represented 39 months of consecutive year-over-year increases. Month over month, and including distressed properties, prices were up 1.7 percent. "Mortgage rates on 30-year fixed-rate loans remained below 4 percent through May, helping to fuel home-purchase activity," said Frank Nothaft, CoreLogic's chief economist. "Our homes-for- sale listing data shows that markets with high demand and limited supply, such as San Francisco, are recording double-digit appreciation rates over the past year." CoreLogic CEO Anand Nallathambi said that home price appreciation was fairly widely distributed across the country. "Importantly, higher home prices over the past couple of years have spurred increases in new single-family construction," Nallathambi said. "Sales of newly built homes during the first five months of 2015 were up 23 percent from a year ago, and as rising values build equity for homeowners, we expect to see more existing homes offered for sale in the coming year."

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