Which Homes Have Increased in Value the Most?
Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 5.6%. CoreLogic, in their most recent Home Price Index Report, revealed that national home prices have increased by 6.7% year-over-year.
CoreLogic broke appreciation down ever further into four price ranges which gives a more detailed view than simply looking at the year-over-year increases of the national median home price.
The chart below shows the four tiers and each one’s growth from July 2016 to July 2017 (the latest data available).
It is important to pay attention to how prices are changing in your local market. The location of your home is not the only factor in determining how much it has appreciated over the course of the last year. Lower priced homes have appreciated at greater rates than homes at the upper ends of the spectrum, due to demand from first-time home buyers and baby boomers looking to downsize.
Bottom Line
If you are planning on listing your home for sale in today’s market, let’s get together to go over exactly what’s going on in your area and your price range.
To see original article please visit Keeping Current Matters.
Rent or Buy? The Real Tradeoff Most People Don’t Talk About
Whether you’re looking to buy now or planning for the future, the first step is the same. Have a quick conversation with a local real estate agent about your goals, timeline, and budget.
The Best Week To List Your House Is Just Around the Corner
Based on analysis of historical trends, the ideal week to put your house on the market this year is: April 12–18.
Affordability Has Improved in All 50 States
When buyers have more choices, it creates a healthier balance in the market and that can help bring affordability back within reach.
The Remodel You’ve Been Dreaming About May Be Closer Than You Think
Whether the project you’ve been thinking about is on this list or not, chat with an agent to make sure it’s worth the time, money, and effort before calling in any contractors.
Renting vs. Buying: The Numbers Might Surprise You
There are thousands of down payment assistance programs available across the country, and many buyers qualify without realizing it.
How Your Equity Could Help Younger Generations Buy a Home
Even a small portion of your equity can put them in a position to finally get the keys to their first place!
Four Ways Your Home Equity Can Work for You
You want to maintain at least 20% equity in your home as a financial cushion – something many homeowners didn’t know back in the crash of 2008.
Why Townhomes Are Popular with Today’s First-Time Buyers
Townhomes are more affordable making them one of the best ways for first-time buyers to finally get their foot in the door.
Top 3 Reasons To Buy a Home Before Spring
Buying just a few weeks earlier could mean paying less, dealing with less stress, and feeling less rushed.
Home Insurance Costs Are Rising: What Buyers Should Plan For
Buying a home is one of the biggest purchases you’ll ever make. Homeowner’s insurance is what protects that investment.