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.
3 Graphs Showing Why You Should Sell Your House Now
If you’re thinking about moving, these three graphs clearly show that it’s a great time to sell your house.
4 Big Incentives for Homeowners to Sell Now
The key to continued success in the residential housing market is for more listings to come on the market. Are you ready to sell?
Americans Find the Nonfinancial Benefits of Homeownership Most Valuable
The non-financial side of homeownership is most valued after a year full of pandemic-driven challenges.
Patience Is the Key to Buying a Home This Year
Low inventory in the housing market isn’t new, but it’s becoming more challenging to navigate.
Will the Housing Market Maintain Its Momentum?
Experts have forecasted that total home sales (existing homes and new construction) will continue their momentum into next year.
4 Tips to Maximize the Sale of Your House
Despite the speed and opportunity for sellers, there are still steps you can take to prep your house so you get the greatest possible return.
Planning to Move? You Can Still Secure a Low Mortgage Rate on Your Next Home
To take advantage of today’s real estate market, experts are encouraging homeowners to act now before interest rates climb.
How Much Time Do You Need To Save for a Down Payment?
The national average for the time it would take to save for a 10% down payment is right around two and a half years (2.53).
93% of Americans Believe a Home Is a Better Investment Than Stocks
Housing represents the largest asset owned by most households and is a major means of wealth accumulation.
Some Buyers Prefer Smaller Homes
If your house is no longer the best fit for your evolving needs, it may be time to put your equity to work for you and downsize to the home you really want.