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.
Sellers Have an Opportunity with Today’s Home Prices
If you’re thinking about selling your house, you have a great opportunity to capitalize on today’s home price appreciation.
Work With a Real Estate Professional if You Want the Best Advice
An expert real estate advisor is knowledgeable about market trends and the ins and outs of the homebuying and selling process.
Why Rising Mortgage Rates Push Buyers off the Fence
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.
Are There More Homes Coming to the Market?
Recent data shows more sellers are listing their houses this season, which may give you more options for your home search.
Will Home Prices Fall This Year? Here’s What Experts Say.
Experts say the housing market isn’t set up for a price decline due to that ongoing imbalance between supply and demand.
How Today’s Mortgage Rates Impact Your Home Purchase
If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power.
Three Tips for First-Time Homebuyers
No matter where you’re at in your homeownership journey, the best way to make sure you’re set up for success is to work with a real estate professional.
Things That Could Help You Win a Bidding War on a Home
Bidding wars are common today with so many buyers looking to make a purchase before mortgage rates rise further.
Today’s Home Price Appreciation Is Great News for Existing Homeowners
Because it will take some time for housing supply to increase, experts believe prices will continue rising.
What You Need To Know About Selling in a Sellers’ Market
Listing your house this season means you’ll be in front of serious buyers who are ready to buy.