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.
The Average Homeowner Gained More Than $55K in Equity over the Past Year
The equity you’re gaining in today’s market, may be what you need to cover a large portion of the down payment on your next home.
Don’t Get Caught Off Guard by Closing Costs
The best way to understand what you’ll need at the closing table is to work with a team of trusted real estate professionals.
This Spring Presents Sellers with a Golden Opportunity
Home prices have been skyrocketing in recent years because of the imbalance of supply and demand.
How to Navigate a Market Where Multiple Offers Is the New Normal
To help you navigate bidding wars with multiple offers, an expert real estate advisor is key.
How Global Uncertainty Is Impacting Mortgage Rates
Rates will likely fluctuate in the short-term based on what’s happening globally.
Why It’s Critical to Price Your House Right
There are several factors that go into pricing your house and balancing them is the key.
An Expert Advisor Will Give You the Best Advice in Today’s Market
It’s critical to have an expert on your side who’s well versed in navigating today’s rapidly changing market.
Millennials: Do You Need a Home with More Space?
The past two years brought about significant changes for many people, and homeowners are reevaluating what they truly need in a home.
The Perks of Owning More Than One Home
With the rise in remote work, more people are reconsidering where they want to live and second homes give them greater flexibility.
Real Estate Voted the Best Investment Eight Years in a Row
As a homeowner, your house is an asset that typically increases in value over time, even during inflation.