Saratoga Springs, NY - Info That Hits Us Where We Live - Home Prices
By Orson Klender
(Equitas Realty)
QUOTE OF THE WEEK... "Saints are sinners who kept on going" --Robert Louis Stevenson, Scottish novelist, poet, and essayist INFO THAT HITS US WHERE WE LIVE... Home prices also keep on going, and in a decidedly upward direction. The National Association of Realtors (NAR) reported thatfor Q1 of this year, the median existing home price jumped 11.3% over last year, the largest annual gain since Q4 of 2005. But Q1 inventory was down 16.8%. The NAR's chief economist expounded: "Inventory conditions are expected to remain fairly constrained this year, so overall price increases should be well above the historic gain of one-to-two percentage points above the rate of inflation." A leading research analytics firm reported that home prices in March jumped 10.5% year over year, posting their bigge...
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