Hello. Welcome to Todd Miller TV. A quick update for February of 2013, some really good news has come out in the housing market and in two different sources and I’m going to sort of touch on these.
First of all, CoreLogic just did their annual report and they said that in December of 2012, home prices appreciated aggregately meaning over the course of an entire year by seven and a half percent. So, home prices are up. It’s the first in six or seven years that that’s happened and this is actually really good news.
Additionally, what they’ve said is that over the course of that time that last year, for ten consecutive months that home prices were up, now of course this is nationally, this is an average so this is an aggregate so it’s the whole nation put together is we have some market going up a little, some staying steady and some that are taking off like Vegas and Phoenix and certain parts of Southern California, OK?
The other interesting thing was that one of Federal Reserve governors, meaning one of the people that meets and sits on the board with Federal Reserve Chairman, basically said that her outlook was optimistic. She was excited for the housing. She felt we were on recovery now.
And I just think that’s very interesting because all the signs have said that it’s been that way for ten months but finally someone from the Federal Reserve is coming out and stating this. I just think it’s a little slow and I guess that’s how economists are. They want to wait until they see it before they’re going to make a prediction. At least, that’s how it feels. But I predicted this over a year ago. It’s all happening so I feel pretty good about that.
Anyway, I just thought I would share that home prices on the rise with you. That is my update for today and hope to see you on another video. Thanks.