Home Prices on the Rise
MCALLEN - For Mel Ruiz it's her first home she's purchased. She bought her home six years ago.
Despite the economy's ups and down's she's pleased that U.S. home values are on the rise.
Ruiz says she's excited that she now has something that she can call hers.
According to the S& P National Home Price Index, home values in the U.S. rose 1.6% during last quarter.
Audrey Gardner is the President and Owner of Avanti Realtors in McAllen, she feels optimistic about the real estate market here locally.
Gardner said, "locally home prices have gone up by four thousand dollars."
Following the housing market crash in 2007, for many it became a renters market. However, experts now say it is a much more promising time for future home owners.
For the past year home prices have seen a consistent one year raise, but only time will tell if the hike will continue.