Rising Prices Good News for Housing

Washington, DC, July 9, 2012 -- If house prices continue to rise they could bolster the housing market for the rest of the year and into 2013, which should be good news for the floorcovering industry.

After falling for more than five years, prices generally are rising again, although modestly.

The asking-price index, an indicator of sales prices published by Trulia Inc., rose at an annualized rate of 3.3% in the second quarter of this year.

Higher prices are likely to tighten inventory in the short term as buyers act quickly in hopes of paying as little as possible, and sellers hold off listing their homes in anticipation of further price increases.

Longer term, if prices keep rising, inventory will increase as more owners will be encouraged to sell.

Rising prices will also spur housing developers to accelerate construction.

The downside to rising prices is they make homes more difficult to afford.


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