Home Price Appreciation
- November 16, 2015
Appreciation is “the increase in the value of an asset over time. The increase can occur for a number of reasons including increased demand or weakening supply, or as a result of changes in inflation or interest rates,” (Investopedia.com).
Home appreciation is a major part of homeownership. One of the perks of buying a home is watching the appreciation of the property over time as your equity grows. Recently, home prices in general have continued to increase although at a slower pace. However, many sources are predicting that current values will continue to rise over the next year. .
What does this mean? For homeowners and potential sellers, it means the value of the home and listing price could be higher than anticipated. It could be a great time to sell and take advantage of your home’s value. And for borrowers, it could be the right time to jump into the market since rates are still low. While prices are higher, getting your stake in the market and beginning to build your own equity could be your key to financial success.
Talk to your trusted mortgage professional today to discuss the right options for you and your financial future.
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