The Great News About Rising Prices for Homeowners

February 20, 2017

The Great News About Rising Prices for Homeowners | MyKCM

The Great News About Rising Prices for Homeowners


Recently there has been a lot of talk about home prices and if they are accelerating too quickly. As we mentioned before, 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’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 from CoreLogic 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 for Homeowners | MyKCM

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.

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!




HAVE YOU SEEN OUR NO LISTINGS / NO ADVERTISEMENTS / NO HASSLE WEBSITE?


FREE buyers and sellers guides (updated every Spring/Summer/Fall/Winter) with tips for preparing your home for sale, getting your credit in order, and what to expect. Download for FREE. Also, over 500+ blog posts with market data, simple easy-to-understand tips, financial guides, and more. See it here by Clicking HERE. Then click either "Buying?" or "Selling?" at the top of the page. 


Website available in English and Spanish.