“Prices are still shooting up.”

“The median price for a single-family house jumped 12.6 percent in July, the ninth straight month of double-digit, year-over-year increases. The steady rise continued to be spurred by a tight supply of available homes.”

Here is Original Article:
Home Prices Rise Again

Interesting article at CNBC.  Monaco, Hong Kong, & London are the most expensive prime markets in the world, priced at 17, 20, and 22 square metres for U.S. $1 M.  New York City ranked as most expensive U.S. city, with $1 million buying 27 square metres (290 square feet).  Some notable values include Berlin and Tokyo at 96 and 83 square metres per $1 M, respectively.  Florida’s prime market of Miami is a global value at 77 square metres per $1 M.  Best value for prime markets in world are found in Cape Town, South Africa and Sao Paulo, Brazil, at 255 and 203 square metres for U.S. $1 M.

Here is original article:  What $1 Million Buys You in Global Market

Interesting article on current trend of sellers overpricing their homes.  Lately there has been a lot of price reductions – so many, that at times there are more price reductions than new listings.  Sellers need to be conscious of potential appraisal issues and be smart in pricing their home strategically to best optimize marketing efforts.

Here is original article:  Homes Reduced to Sell