Home value have risen dramatically over the last twelve months.
CoreLogic’s most recent Home Price Index Report, shows that national home value has increased by 6.7% year-over-year. CoreLogic broke down appreciation even further into four price ranges. This gives us a more detailed view than if we simply look at the year-over-year increases in national median home price.
The chart below shows the four price ranges from the report. Additionally, each one’s year-over-year growth from February 2017 to February 2018. (The latest data available).
It is important to pay attention to how prices are changing in your local market. Location is not the only factor that determines how much your home has appreciated over the course of the year.
Lower-priced homes have appreciated at greater rates than homes at the upper ends of the spectrum. This is due to demand from first-time home buyers and baby boomers looking to downsize.
Bottom Line
Thinking of listing your home for sale in today’s market? Let’s get together to go over exactly what’s going on in your area and your price range.