Will House Prices Rise More?
One thing has remained virtually a certainty since World War IIÛÓthat the price of a single-family dwelling would rise at a rate that matched or exceeded inflation.</br></br>Even today, under conditions that would have driven the price of any other commodity into the cellar, the prices commanded by new and single-family dwellings has continued to grow.</br></br>In May, according to government figures, the price of an average new home stood at $36,000, an increase of 12VSj per cent from $32,000, paid for a similar dwelling in the month a year earlier.</br></br>More than that, some Wall Street analysts now think that the price of a new home, when figures for June arc compiled, will stand at the $40,000 level.</br></br>For existing homes, the figures that are available are a lot less trustworthy, according to Wall Street housing watchers. But those that come from the Federal Home Loan Bank Board note that the median, price for an existing new home went from $17,800 in 1963 to $35,400 last year.