The Connection Between Home Prices and Family Wealth. Over the next five years, home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.
So, what does this mean for homeowners and their equity position?
As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years?
Connection Between Home Prices and Family Wealth
Since the experts predict that home prices will increase by 4.4% this year alone, the young homeowners will have gained $11,000 in equity in just one year.
Over a five-year period, their equity will increase by nearly $43,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.
Bottom Line
In conclusion, not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!
Six Tips To Sell Your Home Fast!
Six Tips To Sell Your Home Fast! Money is well spent on these six areas of your home to enhance the appearance and facilitate a quicker sale
How’s The Real Estate Market? Read What The Experts Are Saying
How’s The Real Estate Market? Read What The Experts Are Saying: “I am guessing we will see it get even better… If you are considering moving, it could be a
More Families Chose to Own a Home Than Rent in Q1
More Families Chose to Own a Home Than Rent in Q1. This marks the first time since 2006 that the number of new homeowner households outpaced the number of
When Is A Good Time To Rent A Home or Apartment?
When Is A Good Time To Rent A Home or Apartment? Regardless, we want to make certain that everyone understands that today is NOT a good time to rent.
5 Reasons Why You Should Use a REALTOR When Buying and Selling A Home
5 Reasons Why You Should Use a REALTOR When Buying and Selling A Home in your corner haven’t changed, but have rather been strengthened by the projections..
Why Americans Consider Moving To Another State
Why Americans Consider Moving To Another State. 41% would move for a “better job opportunity.” Being closer to loved ones filled out 3 of the top 6 reasons
Housing Shortage? The Answer is New Construction
Housing Shortage? The Answer is New Construction. A normal market would see a six-month supply of homes for sale. Currently, that number is below four…
We’re Influencing California State Legislation and Housing Affordability
We’re Influencing California State Legislation and Housing Affordability. It’s all about housing affordability in California. We along with 2,498 fellow…
4 Tips To Get Your Purchase Offer Accepted
4 Tips To Get Your Purchase Offer Accepted. So, you’ve been searching for that perfect house to call a ‘home,’ and you finally found one! The price is right, and in such a competitive market…
A Millennial’s Guide to Homeownership – FREE Download
A Millennial’s Guide to Homeownership. If you’re one of the millions of Millennials who’s seen their peers begin to buy homes recently and are wondering…
What You Need to Know About Qualifying for a Mortgage
What You Need to Know About Qualifying for a Mortgage. Many buyers are purchasing a home with a down payment as little as 3%.
Inventory Shortages Are Slowing Down the Market
Inventory Shortages Are Slowing Down the Market. It seems that 2017 will be the year that the housing market races forward again.
Is the Current Pace of Home Sales Maintainable?
Are we headed for another housing crisis? Actually, if we look closely at the numbers, we can see that we…
Homes are Selling Fast Across the Country
Homes are Selling Fast Across the Country. Homes sold in 60 days or less in 36 out of 50 states, and Washington D.C.
Kris and Kim Darney: Meet Our Raving Fans [Testimonials]
Kris and Kim Darney: Meet Our Raving Fans [Testimonials]
We are so blessed to have wonderful families and friends as REALTORS®. Sometimes we just have to say WOW! The families we’ve come to know and love through our time in real estate is the most rewarding part of our careers.
![Slaying Home Buying Myths [INFOGRAPHIC]](https://sp-ao.shortpixel.ai/client/to_webp,q_glossy,ret_img,w_400,h_250/https://shortsalesellit.com/wp-content/uploads/2017/04/20170421-Share-400x250.jpg)
Slaying Home Buying Myths [INFOGRAPHIC]
Interest rates are still below historic numbers.
Tax Return Depressing? Owning a Home Could Help
Tax Return Depressing? Owning a Home Could Help
US Housing Market Continues Move into ‘Buy Territory’!
US Housing Market Continues Move into ‘Buy Territory’! The index examines the entire US housing market and then isolates 23 major cities for comparison.