Low Inventory Pushes Home Prices Higher

Low Inventory Pushes Home Prices Higher

Low Inventory Pushes Home Prices Higher | Simplifying The MarketLow Inventory Pushes Home Prices Higher Tuesday February 13th, 2018 First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, PricingAccording to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks the fifth month in a row with at least a 6.9% increase.Dr. Frank Nothaft, Chief Economist for CoreLogic, gave insight into the reason behind the large appreciation,“The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices.”This is great news for homeowners who have gained nearly $15,000 in equity (on average) in their homes over the last year! Those homeowners who had been on the fence as to whether or not to sell will be pleasantly surprised to find out that they now have an even larger profit to help cover a down payment on their dream homes.As we near the traditionally busy spring buyers season, there is still hope for buyers as mortgage rates remain low compared to recent decades. The report also predicted that home price appreciation will slow slightly, rising by 4.3% by this time next year.Bottom LineIf you are looking to enter the housing market, as either a buyer or a seller, let’s get together to go over exactly what’s going on in our neighborhood and discuss your options!You might also enjoy reading...U.S. Housing Inventory Crunch Continues… List Your House Today!U.S. Housing Inventory Crunch Continues… List Your House Today!If You’re Considering Selling, ACT NOW!!If You’re Considering Selling, ACT NOW!!Millionaire to Millennials: Don’t Rent a Home… Buy!Millionaire to Millennials: Don’t Rent a Home… Buy!2 Major Myths Holding Back Home Buyers2 Major Myths Holding Back Home BuyersPost navigation The #1 Reason to Sell Now Before SpringValarie FrasierValarieFrasierREALTOR®, Broker Associate CNE, CRS eXp Realty Charleston Charleston SC (843) 276-8614 Valarie Frasier has been REALTOR® for the past 18+ years, helping her clients reach their real estate goals. Working with buyers and sellers, particularly those relocating, she takes the time to determine their real estate needs, shares the best options for purchasing or selling a home and then walks them through the process step by step, taking care of all the details to ensure a smooth closing. Valarie is "Determined to Meet Your Goals"! Visit WebsiteGet in Touch Your Name (required)Email Address (required)Phone Number (optional)SEND ME THIS EGUIDE Your Name (required)Email Address (required)Phone Number (optional)SEND ME THIS EGUIDESearch for:Search…CATEGORIESCategories


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Dated: February 13th 2018
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