Real Estate

Property values bounce up

By From page C3 | November 16, 2012

The $324,000 average selling price for a county home closing escrow during October was 18 percent higher than a year ago. That was the highest average purchase price for October going back to 2008. The year-over-year increase was consistent with increasing property values that have been climbing since they hit bottom in October 2011. This trend of increasing prices is going to be with us awhile, as long as the interest rates remain in the 3.5 percent range and the number of available homes for sale continues to decline.

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Ken Calhoon

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