WSAZ | Huntington, West Virginia | News

Ashland on Par with the National Home Price Average Increase

HUNTINGTON, W.Va. (WSAZ) -- The average sale price of homes nationwide has gone up 5.5 percent.

The Associated Press reports that the Standard & Poor's/Case-Shiller 20-city home price index rose 5.5 percent in November compared with the same month a year ago.

Those numbers are averages from 20 major housing markets.

In our region, Ashland is actually on par with the national average.

Judy Tossey with the Ashland Area Board of Realtors says that from 2011 to 2012 the average home sale price increased 5 percent.

In the Huntington-Charleston market that is not the case.

But Patrick Lucas with Century 21 Home & Land and the Huntington Board of Realtors says the markets says that is not necessarily a bad thing.

“The good news is we are pretty steady,” Lucas explained. “We have a modest increase each year in home prices. This is a really steady real estate market."

Lucas says in Huntington in the last four years have been basically a carbon copy of themselves.

“It's great that we don't follow the national trends of just that," Lucas said. "You take a market like Las Vegas -- they bragged that their prices had doubled, but it scared me because you can't continue to do that.”

Greg Lowe buys and sells homes for a living. His company Blue Surf, LLC rehabs them and wants to sell them. Trouble is, they aren’t selling. Most of them are now rental units.

As a buyer, he knows, it’s a buyer's market.

But he’s ready for some of the homes to start moving.

“I'd love to sell everything I've got, but in a market that is steady and slow he will have to wait," Lowe said.


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