US Residential Witnessed an Increase in the Prices
As per the latest index, the home prices in the United States ended 2016 up 6.8 percent, growing at their fastest pace of the year compared with the end of 2015. Growth slowed slightly in Portland but it remained the fastest growing in the nation, up 13.8% from December 2016 while Tampa, Seattle and Dallas saw similarly high home value growth, up nearly 12% year on year.
Hot home values characterized 2016 all the way to the end and they show no sign of slowing in 2017, according to the Zillow real estate market report, but flattening rents could take the heat off buyers who are struggling to find a home amid low inventory and give them more time to search for the right home.
The average price at the end of December was $193,800 with year on year growth recorded for 53 months in the row and the annual appreciation recorded in December was the fastest such pace since July 2006.
The report points out that after stabilizing somewhat at the end of 2015 and into the start of 2016, the annual pace of national home value appreciation has accelerated in each of the past seven months compared to the month prior.