Home Prices

Dated: 09/12/2018

Views: 56


HOME PRICES HAVE APPRECIATED 6.9% IN 2018

Home Prices Have Appreciated 6.9% in 2018



Between 1987 and 1999, which is often referred to as the ‘Pre-Bubble Period,’ home prices grew at an average of 3.6% according to the Home Price Expectation Survey.

Every month, the economists at CoreLogic release the results of their Home Price Insights Report, which includes the actual year-over-year change in prices across the country and their predictions for the following year.

The chart below shows the forecasted year-over-year prices for 2018 (predictions made in 2017). According to their predictions, the average appreciation over the course of 2018 should be 4.8%, which is still greater than the ‘normal’ appreciation of 3.6%.

Home Prices Have Appreciated 6.9% in 2018 | Keeping Current Matters

If we layer in the actual price appreciation that has occurred this year, we can see that over the course of 2018, home prices have appreciated by an average of 6.9% and have outpaced projections all year!

Home Prices Have Appreciated 6.9% in 2018 | Keeping Current Matters

What does this mean?

The tale of today’s real estate market is one of low inventory, high demand, and rising prices. The forces at work can be simply explained with the theory of supply and demand. That being said, if a large supply of inventory were to come to the market, prices may start to appreciate closer to the forecasted rate which would STILL be greater than the historic norm!

Bottom Line

If you are a homeowner whose house no longer meets your needs, now may be a great time to list your home and capitalize on the equity you have gained over the last year to make a significant down payment on your next home!


SOURCE: KEEPING CURRENT MATTERS

Want to Advertise on this Site?

Latest Blog Posts

Cleaning Your House For Guests

Cleaning Your House for Guests: A Checklist Countdown to a perfectly clean guest-ready home no matter how much — or little — time you have. Here’s how to get that

Read More

Truth About Wearing Shoes In The House

The Ugly (and Filthy) Truth About Wearing Shoes in the HouseBy Stephanie Booth | Oct 22, 2018 SchulteProductions/iStock"Shoes off, please." A reasonable request? Or are them fightin'

Read More

Homes You Could Buy With The Mega Millions Jackpot

SOURCE: REALTOR.COM5 Magnificent Homes You Can Buy If You Win the $1.6B Mega Millions JackpotBy Judy Dutton | Oct 22, 2018 iStock; realtor.comWith the Mega Millions jackpot at its

Read More

Oct 15 2018 20790 1

PRE-APPROVAL: YOUR 1ST STEP IN BUYING A HOME In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This

Read More