According toCoreLogic’slatestHome 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 havegainednearly $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.
If 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!
Author:John Priestash Phone: 972-800-7369 Dated: February 13th 2018 Views: 383 About John: John was born and raised in Pennsylvania and has now lived in Texas for 14yrs. Upon graduating high ...
Charles Deitrick is a servant oriented, experienced real estate agent that thrives on helping others achieve their real estate dreams. As a full time realtor he serves both buyers and sellers of all property types and price ranges throughout the Dallas/Fort Worth area specializing in residential and luxury homes in Rockwall, Dallas, and Kaufman counties.
Charles’ mission statement sums up who he is as a realtor: "Be the best professional real estate agent possible by serving my clients with the highest levels of commitment, honesty and integrity. Wisely use my education, knowledge, expertise, and experience to the maximum benefit of my clients. Strive to provide the best communication and negotiating skills to my clients and on their behalf so they will be able to make well informed, confident decisions. And, to the best of my ability, provide them with the most peaceful and enjoyable real estate experience possible."
When it comes to home ownership, there are few aspects of the building
"I initially met Charles when I needed to do a job relocation to the Forney, TX area. He helped to get my family and me into a rental property. We were so impressed with his professionalism and his attentiveness to our needs, that we had no reservations in asking him to represent us in our house hunting venture. Because we were going the VA route in a booming housing market in Forney, we had a very difficult time in landing a house due to competing buyers outbidding us. Charles was great in keeping our spirits up during the instances where we found a home we liked, only to be outbid by another buyer (we got outbid three times). Charles understood what we were looking for, and our desire to not outbid ourselves into a home just because the market dictated it. His diligence in supporting us paid off. He not only found us a great home, he recommended a top notch mortgage company as well. The process, though stressful, went very smooth and we successfully closed on our house. Charles has, by far, been the best realtor we ever worked with, and I would recommend him to any perspective home buyers. We not only consider him an outstanding realtor, but a friend for life. "