Do You Know How Much Your Home Has Increased In Value

Dated: January 31 2019

Views: 87

Do You Know How Much Your Home Has Increased in Value? | MyKCM

Last year we saw headlines about a possible housing market bubble, and many wondered if Americans still felt confident about the value of their homes. Recently, the 2018 Houzz & Home Study revealed:

Homeowners with mortgages have seen their home equity more than double since 2011, increasing to a record-setting $8.3 trillion in 2017.”

The average homeowner gained $16,200 in home equity between Q2 2017 and Q2 2018 according to the latest release of CoreLogic’s Home Equity Report.

Since 2011 home values have increased significantly throughout the country, with prices rising by 5.1% in 2018 alone. When surveyed, homeowners revealed the top four reasons why they felt their homes had increased in value.

  1. Desirable Location

  2. Improved National Economy

  3. Improved Local Economy

  4. Low Home Inventory in My Area

As we can see, not only does the data show that the homes have appreciated, but homeowners also believe they know why. Many have taken advantage of the opportunity to use their newly found equity to sell their current house and move up to their dream home!

2019 will be a good year for the homeowners that still want to take advantage of their home equity! CoreLogic forecasts that home prices will increase by 4.8% by the end of the year.

Bottom Line

If you are a homeowner who would like to find out your current home value, let’s get together to discuss the hidden opportunities in your home! Contact Tricia Glover and The Glover Team at 540-846-0185, visit our website at http://tglover.liveinfredericksburgva.com.

Blog author image

Tricia Glover

As an agent who's an expert in this local area, I bring a wealth of knowledge and expertise about buying and selling real estate in the Northern Virginia Area. It's not the same everywhere, so you ne....

Latest Blog Posts

Add Some Holiday Cheer

Selling soon? Adding some holiday cheer to your home will definitely put your prospective buyers in the Christmas spirit!Your decorated home will offer the kind of warmth that appeals to

Read More

Home Is Where The Heart Is

Home Is Where the Heart Is More than Ever This Year  First Time Home Buyers, For Buyers, Move-Up BuyersThere’s no denying the financial benefits of homeownership, but

Read More

5 Tips To Keep Holiday Spending From Trampling Your Down Payment Fund

As the holiday season moves into full swing, you might have your eye on a big gift for yourself: your first home. At this time of year, though, saving for a down payment and closing costs can seem

Read More

11 Steps To Winterize A House

11 Steps to Winterize a HouseKeep your house warm and damage-free all winter with these tips.Extreme winter weather can leave neighborhoods and communities without power or other public services

Read More