Home sales price data for closings in January - March 2009 are now in. The drag on home prices is showing up everywhere and is very apparent now that we can compare to data for all of 2008.
Only 18 of our 99 great retirement cities show an increase in home prices from last year. Monterey, Springfield (MO), Coos Bay and Vail top our survey, Monterey an anamoly with a 60% price increase over last year's closings. On the other hand, high-priced havens Paradise Valley, Sarasota and Princeton rule the bottom of our list with drops of over 30% from 2008.
Home prices have endured devastating drops in many cities and towns across the U.S. But the run-up was so great since 2001 that, unless you bought at the top, you probably have seen a nice rise in your home values. For the 90% of the cities in the GreatPlacesToRetire.com survey that show an increase since 2001, the average annual gain is 4.6%.
Who knows whether we have hit bottom. But prices are low and inventory is high. There may not be a much better time than now to be in the market for a retirement or second home property.
GreatPlacesToRetire.com provides MLS links and the latest city data on home sales prices, air quality, water quality, medical care, recreation, crime and more for 99 top retirement cities and towns in the nation. Use GreatPlacesToRetire.com to help you make an informed decision for that retirement home, second home or vacation home acquisition.
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