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.
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.
Today, there’s still a shortage of inventory, which is causing ongoing home price appreciation.
In addition to building your overall net worth, equity can also help you achieve other goals like buying your next home.
Your house is also an asset that typically increases in value over time, even during inflation.
Your goal is to aim directly for the center – not too high, not too low, but right at market value.
Home prices are forecast to keep appreciating because there are still fewer homes for sale than there are buyers in the market.
The first step is working with a local real estate advisor who can help you find a home in your desired location.
If you’re thinking about selling your house, you have a great opportunity to capitalize on today’s home price appreciation.
An expert real estate advisor is knowledgeable about market trends and the ins and outs of the homebuying and selling process.
If you’re on the fence about whether to buy now or wait for a better deal, buying sooner rather than later might be wise.
Recent data shows more sellers are listing their houses this season, which may give you more options for your home search.