Jacksonville, it's a Market on the Mend: Home Prices Up 12.9% over Last Year
by Donny Mak
on Wednesday, May 21st, 2014 at 1:00am.
Market Pulse:In April, Home Prices Up 12.9% over Last Year
Standard and Poor's/Case-Shiller Home Price Index reported Nationwide home prices were up 12.9 percent on a year-over-year basis. It’s a market on the mend, with a 12.9 percent increase year-over-year.
Pending Home Sales Index (PHSI)
Other real estate news — the Pending Home Sales Index (PHSI), a good indicator based on signed contracts, increased 3.4 percent in March to 97.4 from an upwardly revised February level of 94.2. The PHSI monthly increase reported by the National Association of Realtors was the first since June of 2013.
The PHSI measures housing contract activity based on signed real estate contracts for existing single-family homes, condos and co-ops. Because a home goes under contract a month or two before it is sold, the PHSI generally leads existing home sales by a month or two.