US Home Prices Rise

According to Bloomberg, home prices rose in May by the most since 2006.  The Bloomberg article states:

“The S&P/Case-Shiller index of property values climbed 12.2 percent from May 2012, the biggest 12-month gain since March 2006, after advancing 12.1 percent a month earlier, a report showed today in New York. The median projection of 31 economists surveyed by Bloomberg called for a 12.4 percent advance.”

Good news for housing prices often translates to good news for other sectors in the economy. A strong housing market can lead to better times not only for Realtors©,   home builders,  and tradesman, the increase in the value of ones own home can lead to a sense of security that may prompt us to consider other purchases; perhaps  luxury items such as recreational vehicles, jewelry, or a dream vacation.

They say  “a rising tide lifts all boats.”  There isn’t much that can raise the tide in our economy like rising home prices can.

This news brought to you by DiSalvo & Company, CPA with offices in Melbourne, Titusville, and Vero Beach, Florida. If you would like a second opinion regarding your personal, or business finances, please Call DiSalvo & Company, CPA at (772)770-6008