NAR says more markets projected to see rising home values, lower inventories

Higher home listing values are projected to be found with greater ubiquity.Houston homes aren't the only properties showing steady gains in property values with inventory levels declining – the same is projected for a select number of other markets as well.According to the National Association of Realtors, some of the best markets for list prices rising and inventories declining include San Jose, San Francisco, Phoenix and Washington, D.C.Steve Berkowitz, CEO for Move.com, which is affiliated with NAR, said that market fundamentals may lead to a heightened number of options for buyers.”If inventories remain low and list prices begin to rise over the next few months, as they did last year, conditions will be ripe for additional markets to appreciate in 2013,” said Berkowitz.The national median?price for single-family homes in January was $187,000, up eight-tenths of a percent from the same point one year ago.What separates the Houston real estate market from?other markets is its consistency. As detailed in the latest HAR report, home values in the Lone Star State's largest city have increased for 19 consecutive months, with inventory levels diminishing almost as frequently.
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