JACKSONVILLE, Fla. – Homes in the Jacksonville area are increasing in value.
In fact, home prices are up locally 7 and a half percent from Spring of 2016, according to Corelogic. That’s a little higher than what we saw nationally where housing prices jumped a little more than 7 percent.
“The Corelogic Home Price Index is only 2.6 percent from its 2006 peak,” according to chief economist Frank Nothaft. “With a forecasted increase of almost 5 percent over the next 12 months, the index is expected to reach the previous peak during the second half of the year.”
What’s on the horizon? Economists expect the trend to continue with sales prices expected to climb almost another 5 percent by this time next year.