U.S. Homes Valued at $25 Trillion, Prices Climbing
Price gains on homes for sale in Philadelphia, nationwide
According a real estate assessment by Willow, the total combined value of all U.S. based homes exceeds $25 trillion in 2013, a figure that has increased markedly over last year. While this bodes well for the economy, those who are searching homes for sale in Philadelphia may not be impressed with current market offerings, as this marks the second consecutive year in price gains. Since the housing crisis, Zillow estimates that home values have increased by $2.8 trillion, with a $1.9 trillion gain since the end of last year.
Hot real estate markets in the U.S.
Zillow’s expert economist, Stan Humphries, notes this positive trend in the real estate market began in 2012, and 2013’s housing market continued the momentum thanks to economic growth and reasonable mortgage rates that helped many Americans make their dreams of homeownership a reality. But, with new buyers flooding the market and limited inventory, home prices have steadily climbed – something to consider for 2014.
Humphries anticipates that these gains will hold fast through 2014, albeit at a slower rate. We may now be entering into a phase of more stable sustainable growth, with price gains of 3% and 5% predicted for the coming year.
As usual, some of the priciest housing markets in the United States are major cities like Los Angeles and Manhattan.
Other contenders include:
- Philadelphiaat $540.5 billion
- Washington DC at $890.3 billion
- Chicagowith a projected value of $687.5 billion
- Dallas Fort Worthat $339.5 billion
- Houstonat $307.2 billion
Darley Green houses for sale in Delaware
The take away message for prospective buyers is that now may be the time to snatch up a new home – as interest rates are rising along with property values. And one of the hottest new communities attracting new homebuyers is Montchanin Builder’s Darley Green. With our new construction houses for sale in Delaware, you get to select the floor plan and fixtures you want, and take advantage of the state’s incredibly low property taxes. Unlike resale homes, you get peace of mind knowing your condo or townhome is covered by an extensive home warranty and you won’t inherit the previous owner’s problems.
No matter what style or model of condo you choose, all offer energy-efficient heating that can really help lower utility bills, putting more change in your pocket at the end of the day. Centrally located right off the Philadelphia Pike in Claymont, DE, our master-planned community is 5 minutes from Wilmington, 20 minutes from Philly and close to the SEPTA R2 line, Wilmington Amtrak station and Claymont commuter train for quick access to all major points of interest.
Unlike homes for sale in Philadelphia, our townhouses and condos promise exceptional craftsmanship at a fraction of the cost! Learn more about our great financing packages or stop by to tour a model home today, any time from 11AM to 6PM. Amy Maluski, Community Sales Manager, is available for all other inquiries at 302.655.2600.