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Notary Bulletin

Report: Homes Remain Affordable Despite Record Value Increases

Home-Sold.jpgHome values shot up in the first half of 2013 at the fastest rate in decades — but prices remain affordable for buyers in most states, according to a report by CoreLogic.

The firm’s June 2013 Home Price Index reported that while this year’s housing prices were rising at the quickest pace since 1977 — with the highest year-over-year gains in Nevada, California, Wyoming, Arizona and Georgia — price tags still remain 19 percent below the highest levels reached in 2006.

“Home prices remain reasonable in a historical context, with most states near peak affordability levels,” said Anand Nallathambi, President and CEO of CoreLogic.

A better environment for homebuyers could potentially increase the market for Notary Signing Agent assignments, but experts are still divided whether rising home prices and mortgage rates are a sign of recession recovery or indicate another housing bubble in the making.

David Thun is an Associate Editor at the National Notary Association.

 

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