Which Homes Have Appreciated 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 7.1%. CoreLogic’s most recent Home Price Insights Report, reveals that national home prices have increased by 6.9% year-over-year.
The CoreLogic report broke down appreciation even further into four different price categories:
- Lower Priced Homes: priced at 75% or less of the median
- Low-to-Middle Priced Homes: priced between 75-100% of the median
- Middle-to-Moderate Priced Homes: priced between 100-125% of the median
- High Price Homes: priced greater than 125% of the median
Here is how each category did in 2016:
Bottom Line
The lower priced homes (which are more in demand) appreciated at greater rates than the homes at the upper ends of the spectrum.
There’s More to a Bubble Than Rising Home Prices
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What If I Wait Until Next Year to Buy a Home?
As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home.
How Much More Equity In Your Home Over 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.
How Much Equity Do You Have In Your Home? You Will Be Surprised!
If you are one of the many Americans who is unsure of how much equity you have built in your home, don’t let that be the reason you fail to move on to your dream home in 2018! Let’s get together to evaluate your situation!
712,000 US Homes Moved Into Positive Equity in 2017
The average homeowner gained approximately $14,900 in equity during the past year. Compared to Q3 2016, negative equity decreased 22% from 3.2 million homes, or 6.3% of all mortgaged properties. U.S. homeowners with mortgages (roughly 63% of all homeowners) have seen their equity increase by a total of $870.6 billion since Q3 2016, an increase of 11.8%, year-over-year.
First Step To Buying A Home Is Getting Pre Approved
One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.
The Cartier Experience
California Homes Days on Market Drops below 30 in October 2017
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Charts Don’t Lie About Housing Affordability
There’s a lot of discussion about the current state of housing affordability for both first-time and move-up buyers. Much of the narrative is tarnished with a negative slant.
Historically Speaking, There’s No Housing Bubble Coming Soon!
Historically Speaking, There’s No Housing Bubble! Let’s break this down. From 1975 to 1990, home values trended at standard 5% annual growth. In 1990, when the US entered into a recession, new construction prices fell.
Low Housing Inventory Results in Double Digit Price Increases
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Buying A Home Or Renting, You’re Paying Someones Mortgage
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Cooling Down and Home Buyers are Heating Up…Time To Sell
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1st Step To Buying a Home… Know Your Credit Score
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Lack of Home Inventory Makes Now… Best Time To Sell
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First Time Homebuyers Flocking to Our Down Payment Assistance Program
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Buying A Home Costs Significantly Less Than Renting
Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!