Real Estate Prices Up Over Year Ago, Firm Says

Truckee, CA, March 4, 2010--Clear Capital said Thursday that home prices nationally are up 5 percent compared to February 2009.

The quarter-over-quarter price change was flat, indicating a softening during the winter months.

But Clear Capital noted that the year-over-year price variations have been in positive territory for two consecutive months, and the company said it expects another big price boost to come when home sales pick up before the contract deadline for the homebuyer tax credit.

All four U.S. regions posted very consistent quarterly price changes in February, according to Clear Capital’s analysis, with only the Northeast showing a decline of 1.4 percent.

On a year-over-year basis, just the West had a drop, and it was a mere 0.5 percent. Prices in the Midwest skyrocketed 13.8 percent compared to February 2009.

Clear Capital says February’s year-over-year price gains are indicative of an improving housing market, especially compared to a year ago.

Clear Capital provides products for real estate asset valuation, investment and risk assessment,