Lately 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).
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 of 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, contact me at 214-316-1181 to discuss your options! Check your home's value here.
Anitra Williams is a full-time Real Estate Professional with JB Real Estate Group. She has successfully helped homeowners and renters for 13 years. If you're looking for "Great Service Forever", contact her today!
Author:John Brooks Phone: 972-693-5658 Dated: October 21st 2016 Views: 211 About John: Hello! My team and I are passionate about helping people build stability and wealth through solid in...
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Hello! My team and I are passionate about helping people build stability and wealth through solid investments in real estate, either for their personal residence or for investment purposes. We also LOVE to market and SELL your existing property to maximize your return and make the process as smooth as possible for you. Give us a shout today for a relaxed conversation about your real estate goals!
Located in the Caribbean Estates of Lake Highlands in 75238, sits a ho
"John was wonderful to work with. His hard work contributed to the smoothest real estate transaction I can imagine. He is honest and extremely responsive. I highly recommend John Brooks for your real estate needs."