The last month has been a refreshing mix of a market that’s moving at a decent speed while allowing clients to have some time to make critical decisions.
Is the market slowing down? Yes. Is it a good time to be a buyer? Yes. Is the world as we know it crumbling around us? No.
Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.2% year-over-year.
CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home price.
The chart below shows the four price ranges from the report, as well as each one’s year-over-year growth from July 2017 to July 2018 (the latest data available).
It is important to pay attention to how prices are changing in your local market. The location of your home is not the only factor which determines how much your home has appreciated over the course of the last year.
Lower-priced homes have appreciated at greater rates than homes at the upper ends of the spectrum due to demand from first-time home buyers and baby boomers looking to downsize.
If you are planning to list 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.
After 21 months in the top spot for home price increases Seattle finally falls to Las Vegas as the number one market.
The month of August shaped up exactly how I expected it to. The summer slow down was in full effect with uninterested buyers and over eager sellers.
Seattle may currently hold the record for most cranes and construction projects underway in the downtown core. Most of the units are rentals/retail with permitting that began several years ago.
Would you purchase a home sight unseen? Many buyers are doing just that with the availability of modern technology and a savvy buyer’s agent to help you virtually tour the home.
Everyone thinks buying and selling in the summer is the ideal move and it makes sense on many levels. School is out, weather cooperates, people are feeling happy, and relocation is in full swing. But, when I stop and analyze what continuously happens at this time of year another story unfolds.