Vanguard’s “Economic Week in Review” for September 21, 2012 has the headline “Real estate rebound may be for real”. The article states sales of previously owned homes jumped 7.8%. The national median price rose to $187,400 in August, the first time prices climbed six straight months since December 2005 to May 2006.
As buyers in Silicon Valley discovered first hand, local home prices have been rising quick enough it was hard to adjust to them. Many ended up chasing the rising prices. Those who bought during the first quarter of 2012 are probably ecstatic they didn’t delay.
My real estate statistics are at: http://www.julianalee.com/real-estate-statistics.htm