Friday, November 4, 2011

Military home prices are down

Posted By on Fri, Nov 4, 2011 at 11:47 AM

A news release from ERA Real Estate says that while, nationally, home prices are expected to fall another 3.6 percent by next June — which is 35 percent below the peak reached in '06, reports CNN — military homes haven't fared as badly.

The organization looked at data in five markets — North Carolina, Texas, Virginia, Florida and here in Colorado Springs — and determined that the home values for our military bases are still down, however, but that renting is on its way up.

“Military housing markets are definitely insulated but not immune to broader economic pressures,” says Charlie Young, president of ERA Real Estate, in the release. “We are seeing some interesting trends in military markets. There is a lot of activity, but we are seeing many buyers move into rental markets because they are underwater in their homes due to frequent moves or the market drops that have eroded home values across the country.”

Screen_shot_2011-11-04_at_11.15.45_AM.png
  • ERA Real Estate

Of course, lower home prices are good for folks looking to get into a new home, or for investors, so I guess there's that.

Tags: , ,

Favorite

Comments

Subscribe to this thread:

Add a comment

Latest in IndyBlog

Top Topics in IndyBlog

Outdoors (2)


All content © Copyright 2017, The Colorado Springs Independent

Website powered by Foundation