Home prices gain in 2013
Home prices saw double-digit gains in 2013, posting the highest annual rate of increase since 2005, according to CoreLogic’s latest housing report, released Tuesday. Ten states and the District of Columbia reached new all-time price peaks last year.
“We expect the rising prices to attract more sellers, unlocking this pent-up supply, which will have a moderating effect on prices in 2014,” said Mark Fleming, chief economist for CoreLogic.
CoreLogic’s latest report comes after a report from the National Association of Realtors, which showed a strong gain in home prices in 2013. The median sales price for all of 2013 was $197,100 in December, 11.5% above the 2012 median price, according to the NAR’s December existing-home sales report.
CoreLogic’s report also showed that home prices have eased a bit in the last three months. Home prices dropped by 0.1% from November to December, and the year-over-year price increase has slowed. CoreLogic’s report does not adjust for seasonal patterns.
"The healthy and broad-based gains in home prices in 2013 help set the stage for the continued recovery in the housing sector in 2014,” said Anand Nallathambi, president and CEO of CoreLogic. “After six years of fits and starts, we can now see a clearer path to a durable recovery in single-family residential housing across most of the U.S.”
The following states had the highest home-price appreciation, including distressed sales:
- Nevada: 23.9%
- California: 19.7%
- Michigan: 14%
- Oregon: 13.7%
- Georgia: 12.8%
Trex debuts outdoor lighting collection
Trex Co. has unveiled Trex Outdoor Lighting, a complete system of energy-efficient components designed to complement Trex’s high-performance outdoor products.
Joining the brand’s Trex Deck Lighting is a full selection of easy-to-install Trex Landscape Lighting options. These compatible fixtures make up the Trex Outdoor Lighting collection.
"The right lighting can take any outdoor space from invisible to inviting," said Ronald Kaplan, chairman, president and CEO of Trex. "The new Trex Landscape Lighting components are designed to integrate seamlessly with our Trex Deck Lighting offerings, as well as with all of the Trex decking and railing products, so homeowners can create customized outdoor living spaces that are compatible and consistent in both look and performance."
Trex Landscape Lighting options feature compact designs that put the focus on the fixture’s effect instead of the source. They can be built into new or existing outdoor living spaces. The new collection includes the these four landscape lighting styles:
Well light: These provide ambient illumination for bushes, foliage and small structures.
Path light: Available in two designs to complement existing decor, path lights brighten walkways with a warm, focused light.
Multifunction light: These lights cast a wide glow for highlighting buildings, trees and pathways and allow for a custom look for any setting with the 140-degree swivel head.
Spotlight: Spotlights use LED technology to shine a bright light through a modest head. When not in use, they’re designed to disappear into their surroundings.
The entire Trex Outdoor Lighting system has been enhanced with the new Trex LightHub installation system for easy assembly.
Each option operates for up to 40,000 hours of life and surpasses traditional incandescent lighting by using up to nine times less energy.