Home Values Go Up AgainGood news on the real estate front, Zillow is reporting that national home values have gone up 0.5% from April to May this year to a value index of $148,100. The local Jacksonville movers learned that of the 166 metropolitan areas that Zillow studies, 86 show monthly home-value appreciation. Among the top 30 metros, 23 experienced monthly home-value appreciation. The local Jacksonville moving specialists are proud to say that the Miami-Fort Lauderdale had a 2.2% increase. Phoenix also did well again, with an increase of 1.9%, but a 9% increase compared to last year at the same time. Many economists expected lower numbers thanks to the foreclosures that are sweeping the nation, so this is certainly good news in the real estate market.
Now that markets like Miami and Phoenix are doing better, it's changing the predicted landscape. During the recession, most people thought the negative equality plus foreclosures meant this real estate bottom would last a long time. But the sunshine state is proving that it's having an effect on the supply side. The All My Sons of Jacksonville found out that all the households economists thought would be trapped in their homes and unable to buy new properties are also now unable to sell their current homes so this is decreasing the overall supply of homes out there. Economists thought that when there was an increase in demand and more homebuyers, sellers that couldn't sell during the recession would try to sell again. However, now some of them are underwater with their mortgages and negative equity might constrain the home supply...contributing to inventory shortage and higher price tags on properties.
Are you buying a home or selling a home? Do you need to move out fast? Call the local Jacksonville moving team for a professional move with no hassles. We provide an affordable moving quote as well as standard moving services with our residential moves such as quilt-pad wrapping your more fragile personal belongings. Should you not want to deal with packing your household items, call the local Jacksonville movers for packing services. We'll take care of every detail from wrapping your delicate china to labeling your moving boxes and everything in between. We also have moving kits of all sizes available as well as professional moving boxes and wardrobe boxes to make transferring clothes easy. The Jacksonville movers are part of the All My Sons Moving and Storage network so we are part of a big movers family backed by four generations of professional movers. The All My Sons moving company has offices in West Palm Beach, Salt Lake City, San Antonio, Raleigh and Atlanta. When you're ready to move, call us and we'll be there to help you through your journey.