News About Rising Home Prices

Dated: 11/04/2016

Views: 117

The ‘Great News’ About Rising Prices

The ‘Great News’ About Rising Prices | MyKCM

Recently there has been a lot of talk about home prices and if they are accelerating too quickly. In some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home, which has caused prices to rise.

The great news about rising prices, however, is that according to CoreLogic’slatest US Economic Outlook, the average American household gained over $11,000 in equity over the course of the last year, largely due to home value increases.

The map below was created from CoreLogic’s report and shows the average equity gain per mortgaged home from June 2015 to June 2016 (the latest data available).

The ‘Great News’ About Rising Prices | MyKCM

For those that are worried that we are doomed to repeat 2006 all over again, it is important to note that homeowners are investing their new found equity in their homes and themselves, not in depreciating assets.

The added equity is helping families put their children through college, and even invest in starting small businesses, allowing them to pay off their mortgage sooner or move up to the home that will better suit their needs now.

Bottom Line

CoreLogic predicts that home prices will appreciate by another 5% by this time next year. If you are a homeowner looking to take advantage of your home equity by moving up to your dream home, let’s get together to discuss your options! Call one of our professional Real Estate agents to help make your home selling a painless one!

Latest Blog Posts

Mistakes To Avoid On Your First BuySell

If this the first time you're considering buying a home, or selling your first purchase, there are a lot of possible challenges you can end up facing. Having the right agent can ensure you're able

Read More

Coming Soon New Listing

"COMING SOON!" 3 Bedrooms, 2 baths, 1 car garage located on a large lot! One level living! All for $155,000.00 Call one of our real estate professionals to schedule a showing! 307-214

Read More

Buy Before Interest Rates Jump

Why Buyers May Lose If They Don’t Act Now DAILY REAL ESTATE NEWS | MONDAY, MARCH 12, 2018 Rising mortgage rates could have a big impact on the direction your buyers choose when shopping for real

Read More

COMING SOON

'COMING SOON!" Very well cared for home in fantastic condition! 5 bedrooms, 3 baths, 2 car attached garage. It a great location, close to shopping & schools. Central A/C, Sprinkler system,

Read More