Reno NV Homes Specialist Marshall Realty Announces 7.4 Percent Increase in Home Prices

Online, January 11, 2015 (Newswire.com) - This increase echoes the 29-month streak of annual increases and shows increasing levels which have not been since in many states for the past eight consecutive years. Since 2006 the real estate industry had collapsed and had only recently begun to improve back in 2011.

According to CoreLogic Home Price Index, the majority of price increases initiated from the south and west. As the year passed, Northeastern states and Midwestern states began to take over and are now seeing the highest increases in the country.

So far, the Reno Homes specialists have called out 11 states, excluding the District of Columbia, to have reached index highs never before seen since the index began in 1976. These eleven states are:

•    Alaska

•    Colorado

•    Iowa

•    Louisiana

•    Nebraska

•    North Dakota

•    Oklahoma

•    South Dakota

•    Tennessee

•    Texas

•    Vermont

Verdi real estate and other property specialists have noted that this trend may continue on its current path into 2015 as the economic recovery pushes on.

Michigan is now the state with the highest appreciation rate for home prices (+11.4%) and this includes distressed sales. This is followed by Maine coming in with +10.6% and then Nevada with +10.6%. Hawaii and California follow with +10.5%.

If one were to exclude distressed sales then the highest home appreciation rating would go to Massachusetts (+11.2%) followed by New York (+9.7%) and Maine (+9.5%). This is then followed by Hawaii (+9.2%) and then by Florida, coming in at (+8.8%).

Nevada, in particular, shows signs of being one of the most rapidly improving states in terms of home sales within the past five years.

How prices will reflect the economy in 2015 is still to be seen but Marshal Realty indicates that home prices will be on a steady hike as the industry continues to progress. With annual improvements continuing to rise, the slight drop-off this November is only a reminder that the summer sales are over.

For more information, Marshal Realty.

Contact Info:

Marshall Carrasco, Broker

(775) 787-7400

Marshall Realty

9740 S. McCarran Blvd #103

Reno, NV 89523