There is no crystal ball to real estate trends, especially since real estate values greatly vary by area. If history repeats itself, we should see some home appreciation in Cache Valley soon. In past real estate cycles, the housing trends in Cache Valley have always lagged behind national trends, and even Wasatch Front real estate.
The fact is that in most of the United States, real estate prices are increasing. There is a very good chance that we will follow this trend. Check out this National Real Estate report.
The S&P/Case-Shiller 20-City Composite index posted its largest year-over-year gain in January since the summer of 2006.
The index, which tracks single-family home prices in 20 large U.S. metros, was up 8.1 percent in January from a year ago with all 20 areas including New York, which hadn’t seen year-over-year positive light in 28 months, registering gains.
Nineteen of the 20 metros saw home prices jump higher in January from the previous year than they did in December with each area but New York (0.6 percent), Chicago (3.3 percent), Boston (4.0 percent) and Cleveland (4.8 percent) showing greater than 5 percent year-over-year leaps.