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Evidence of housing rebound seen locally and nationally - abc27 WHTM

Evidence of housing rebound seen locally and nationally

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HARRISBURG, Pa. (WHTM) -

U.S. home prices rose in February, compared with a year ago, by the most in nearly seven years, suggesting the rebound in the housing market continues.

The Standard & Poor's/Case-Shiller 20-city home price index climbed 9.3 percent in the 12 months ending in February. That's up from an 8.1 percent gain in January.

Industry insiders indicated that the rebound is also being felt here in the midstate.

"We had a little bit of a slump," said realtor John Henry of the Joy Daniels Group. "We had some down years, but it's definitely improving every month. We look at the Greater Harrisburg Association of Realtors numbers. We're improving every month, especially over last year."

Henry said his firm's listings are selling quickly and that there aren't enough properties to satisfy a lot of his prospective buyers. Henry said while prices are heading up, interest rates remain low.

But the rebound appears to be avoiding many home sellers in Harrisburg, like Raymond Ulrich.

"I haven't had one person even interested in the property," he said. "It's a beautiful property."

Ulrich said he put his Uptown house on the market in February. He's not looking to move out of the city, but just wants to move to a one-story home.

He thinks Harrisburg's uncertain financial situation is scaring many home buyers away.

"People don't want to move in to the city because they don't know where the taxes are heading, the school district taxes, because everything is going up," he said.

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