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.
Key Factors Affecting Home Affordability Today
When you think about affordability, remember the full picture includes mortgage rates, home prices and wages.
Sell Your House Before the Holidays
A trusted real estate advisor can help you determine how much home equity you have and how you can use it to achieve your goal of making a move.
3 Trends That Are Good News for Today’s Homebuyers
As the market has cooled this year, some of the intensity buyers faced during the peak frenzy of the pandemic has cooled too.
Taking the Fear out of Saving for a Home
If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first but a trusted real estate professional can help.
What’s Ahead for Home Prices?
The housing market is shifting, and it’s a confusing place right now. Let’s connect so you have a trusted professional to help you make an informed decisions about what’s happening in our market.
The Emotional and Non-financial Benefits of Homeownership
If you’re looking to put down roots, homeownership can help fuel a sense of connection to the area and those around you.
The Cost of Waiting for Mortgage Rates to Go Down
As mortgage rates rise, they impact your purchasing power by raising the cost of buying a home and limiting how much you can afford.
How To Prep Your House for Sale This Fall
Taking the time upfront to prep your house appropriately and create a solid plan can help bring in the greatest return on your investment.
If You’re Thinking of Selling Your House This Fall, Hire a Pro
A trusted real estate advisor will keep you updated and help you make the best decisions based on current market trends.
The True Strength of Homeowners Today
Home equity allows homeowners to be in control. This is yet another reason we won’t see the housing market crash like we saw in 2008 when many owed more on their homes than they were worth.