Hotline America Reviews Latest Metro Housing Stats

Home prices are on the rise in many metro areas--a finding that has won the attention of Hotline America.

2012-08-16

NEW YORK, NY, August 16, 2012 (Press-News.org) Throughout the summer, real estate experts and economists alike have speculated about the extent to which the American realty market is recovering, with many saying that markets are finally bouncing back after a lengthy period of stagnation. Throwing fuel on the fire of these debates is a recent study that finds many home prices on the rise, particularly in metro areas. These findings have won the attention of many key players in the real estate industry, including nationwide company Hotline America.

According to the latest data, metro-area home prices are steadily rising. This trend is bolstered, in large part, by a dwindling number of distressed properties, on sale for exceptionally low prices. As these distressed properties are cleared from the housing markets, average prices grow.

This trend is taking place all over the nation, the new data shows. In fact, the last quarter found the national median house price increase by more than 7 percent since the same time last year. This increase, to a sum of $181,500, is the greatest gain since 2006.

These promising real estate trends have won the attention of Hotline America. As a leading resource to real estate agents around the country, Hotline America reviews new housing data regularly, offering analysis and commentary. The company has released a press statement in response to the new housing data.

Remarks Hotline America Chief Executive Officer Thomas Ingram, "We are indeed observing incremental rates of real estate sales recovery in selected geographical markets." He goes on to review some of the factors that contribute to this trend. "A combination of factors, including reduced inventory of distressed properties, continued low mortgage rates, and improving consumer sentiment is supporting a firmer real estate marketplace in identified metro areas."

As Hotline America reviews these statistics, the company's overall response is a positive one. "There are fundamental reasons for increased optimism in the real estate industry," Ingram observes.

Of the factors listed by Ingram, the smaller supply of distressed properties is among the most significant. In recent years, large quantities of foreclosures and short sales have driven median housing prices down, with many of these distressed properties selling for small fractions of their original value. With these properties on the decline, the median housing price continues to rise.

Meanwhile, Hotline America's Ingram is not the only real estate professional to find reason for optimism in these numbers. Chicago broker Kim Nolan also shares a positive outlook on real estate market trends. "That's a real positive sign. It's very promising and very active."

ABOUT:

Hotline America is a company devoted to the idea that advanced technology, when made accessible and easy to use, can empower real estate agents to attain remarkable levels of efficiency and success. The company delivers diverse lead generation services to realtors across the nation, including individualized, toll-free phone lines that consumers can call to obtain up-to-date information about current listings, 24/7. Hotline America's goal is to help real estate agents make use of technology that will ensure they never miss a lead again. For more information about the company, visit www.HotlineAmerica.com.

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