Recently there has been a lot of talk about home prices and if they are accelerating too quickly. As wementionedbefore, 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 toCoreLogic’sUS 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 using the same report fromCoreLogicand shows the average equity gain per mortgaged home from June 2015 to June 2016(the latest data available).
For those who 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, 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.
CoreLogicpredicts 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!
Author:Heather F Davidson Phone: 609-209-7581 Dated: February 17th 2017 Views: 279 About Heather: I'm an agent whose business is built on the promise of exceptional customer service. If you are sel...
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Specialties: Buyer's Agent, Listing Agent, Relocation, Short-Sale
I'm an agent whose business is built on the promise of exceptional customer service. If you are selling your home or searching for that special place to call your own, you deserve to work with someone you trust-someone who you know has your best interests in mind. Whatever your particular Real Estate need, I'll work hard to make sure that you are completely satisfied. I have the knowledge, experience, and dedication that it takes to get results.
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One of our friends who is a mortgage adviser introduced Heather Davidson to us. My wife and I we are very happy to get to know her. Heather is a real Estate professional agent that can help anyone who wants to sell or buy Real state quickly. Her advise, charm and excellent personality will give you the confidence that she is the right Person for the professional business. With her knowledge and advise we sold our house in two months. My wife and I we appreciate Heather Davidson’s help and we will highly recommend her to anyone. Thank you Heather for all of your help. Regards. Sam and Tina Samani"