Do You Know How Much Your Home Has Increased In Value

Dated: January 31 2019

Views: 84

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

5 Really Affordable Yet Impactful Decorating Ideas

We all need a little change every now and then. Here is a little inspiration for sprucing up your home! https://www.pineandprospecthome.com/5-really-affordable-yet-impactful-decorating/#:~:

Read More

How To Compete With Cash Offers When Buying A House

Focusing on the seller's motivations and needs can help when you’re competing with cash offers. Let me know how I can help you navigate the process. nerdwallet.com/article/mortgages/compete

Read More

Housing Forecast

Robin Cantrell, Realtor The Glover Team Inc.United Real Estate Premier, 540-845-7651 cell#540-374-1111 office#992 Bragg Rd., Suite A, Fredericksburg VA 22407Licensed in the Commonwealth of

Read More

What Is A Property Title Search How This Important Step Can Make Or Break Your Closing

While a title search may not be as exciting as scrolling through online listings or dreaming of moving in, it’s a crucial step in a real estate transaction. bankrate.com/mortgages/property

Read More