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Why Should You Think About Selling Your Home This Year?
You may be "kicking yourself" that you didn't sell your home last year.  According to the latest CoreLogic Home Price Insights Report, nationwide home values increased by 8.2% over the last twelve months. There were two reasons for this dramatic rise in values. The inventory of homes for sale reached historic lows at the same time buyer demand was buoyed by record-low mortgage rates. As CoreLogic explained:
Home price growth remained consistently elevated throughout 2020. Home sales for the year are expected to register above 2019 levels. Meanwhile, the availability of for-sale homes has dwindled as demand increased and coronavirus (COVID-19) outbreaks continued across the country, which delayed some sellers from putting their homes on the market.
While the pandemic left many in positions of financial insecurity, those who maintained employment and income stability are also incentivized to buy given the record-low mortgage rates available; this is increasing buyer demand while for-sale inventory is in short supply.
Where will home values go in 2021?Home price appreciation in 2021 will continue to be determined by this imbalance of supply and demand. If supply remains low and demand is high - fueled by record low interest rates, prices will continue to increase.
Housing SupplyAccording to the National Association ... more

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