The latest edition ofCoreLogic’sHome Price Indexshows that nationally, home prices have appreciated 6.7% over the last year and 0.9% month-over-month. The release of the report included this headline,
“National Home Prices Now 50% Above March 2011 Bottom”
The real estate market has come a long way since 2011, which is great news for homeowners!
Nearly 79% of homeowners with a mortgage in the US now have significant equity in their homes(defined as over 20%), according to the latestEquity Report. The challenge is that not every homeowner knows how much their home’s value has appreciated.
Homeowners in Denver, CO lead the way with 8.7% appreciation over the last year, while owners in Washington and Utah have experienced a 3% increase in values since the start of this year!
Nationally,CoreLogicforecasts that home values will increase another 5.0% by this time next year.
Bill Banfield,VP of Capital MarketsatQuicken Loans,recentlyexplainedthe importance of knowing the conditions in your area,
“With home values constantly changing, and the rates of change varying across the country, this is one more way to show how important it is for homeowners to stay aware of their local housing market.”
Do you know what your house is worth? Have you stayed put because you are nervous you won’t have enough equity to buy your dream home? Let’s get together to perform an equity analysis and give you the freedom to achieve your dreams.
Author:Gillian Cunningham Phone: 214-718-3718 Dated: September 8th 2017 Views: 262 About Gillian: Gillian Cunningham’s name is synonymous with true professionalism, extraordinary knowledge, except...