Prices Rise 8.6 Percent in North Port- Bradenton- Sarasota Market
Published on: Mar 4, 2016
Transcripts - Prices Rise 8.6 Percent in North Port- Bradenton- Sarasota Market
Prices rise 8.6 percent in North Port-
By Matthew Sauer , Herald-Tribune
/ Tuesday, July 7, 2015
Home prices in the North Port-Bradenton-Sarasota market rose 8.6 percent from May 2014 to
May 2015, while prices nationally climbed 5.1 percent, a real estate data provider reported on
CoreLogic Inc. said that, including distressed sales, the prices of homes in the market were up
1.3 percent in May from April. Taking out distressed properties, year-over-year prices rose 9.1
percent while month-to-month prices rose 1.7 percent.
The Charlotte County market saw a 10.5 percent increase year over year while rising 1.9 percent
month to month, according to CoreLogic. Taking out distressed properties, year-over-year prices
rose 9.2 percent while month-to-month prices rose 1.8 percent.
Nationally, home prices rose 6.3 percent in May when compared with the same month a year
ago. That represented 39 months of consecutive year-over-year increases. Month over month,
and including distressed properties, prices were up 1.7 percent.
"Mortgage rates on 30-year fixed-rate loans remained below 4 percent through May, helping to
fuel home-purchase activity," said Frank Nothaft, CoreLogic's chief economist. "Our homes-for-
sale listing data shows that markets with high demand and limited supply, such as San Francisco,
are recording double-digit appreciation rates over the past year."
CoreLogic CEO Anand Nallathambi said that home price appreciation was fairly widely
distributed across the country.
"Importantly, higher home prices over the past couple of years have spurred increases in new
single-family construction," Nallathambi said. "Sales of newly built homes during the first five
months of 2015 were up 23 percent from a year ago, and as rising values build equity for
homeowners, we expect to see more existing homes offered for sale in the coming year."