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.
Builder Confidence Hits 11-Year High
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January marked the 59th consecutive month of year-over-year price gains as the median home price rose 7.1% to $228,900.
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New Listing: 3073 Arlington Ave, Riverside – Ground Up Remodel
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Do You Know the Real Cost of Renting vs. Buying? [INFOGRAPHIC]
Historically, the choice between renting or buying a home has been a close decision.
Looking at the percentage of income needed to rent a median-priced home today (30%), vs. the percentage needed to buy a median-priced home (15%), the choice becomes obvious.
Every market is different. Before you renew your lease again, find out if you could use your housing costs to own a home of your own!
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January 2017 Home Sales Report Riverside 92506
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91784 A Real Estate Sales Year In Review for Upland California
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