Home Prices Have Appreciated At Over 6 Percent In 2018

Dated: 09/12/2018

Views: 53

Image title

Between 1987 and 1999, which is often referred to as the ‘Pre-Bubble Period,’ home prices grew at an average of 3.6% according to the Home Price Expectation Survey.

Every month, the economists at CoreLogic release the results of their Home Price Insights Report, which includes the actual year-over-year change in prices across the country and their predictions for the following year.

The chart below shows the forecasted year-over-year prices for 2018 (predictions made in 2017). According to their predictions, the average appreciation over the course of 2018 should be 4.8%, which is still greater than the ‘normal’ appreciation of 3.6%.

Home Prices Have Appreciated 6.9% in 2018 | MyKCM

If we layer in the actual price appreciation that has occurred this year, we can see that over the course of 2018, home prices have appreciated by an average of 6.9% and have outpaced projections all year!

Home Prices Have Appreciated 6.9% in 2018 | MyKCM

What does this mean?

The tale of today’s real estate market is one of low inventory, high demand, and rising prices. The forces at work can be simply explained with the theory of supply and demand. That being said, if a large supply of inventory were to come to the market, prices may start to appreciate closer to the forecasted rate which would STILL be greater than the historic norm!

Bottom Line

If you are a homeowner whose house no longer meets your needs, now may be a great time to list your home and capitalize on the equity you have gained over the last year to make a significant down payment on your next home!

Want to Advertise on this Site?

Latest Blog Posts

Is The Real Estate Market Finally Getting Back To Normal

The housing market has been anything but normal for the last eleven years. In a normal real estate market, home prices appreciate 3.7% annually. Below, however, are the price swings since 2007

Read More

25 Percent Of Homes With A Mortgage Are Now Equity Rich

Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as how sustainable the growth in prices really is.

Read More

Home Prices The Difference 5 Years Makes

CoreLogic recently released their Home Price Index Report. One of the key indicators used in the report to determine the health of the housing market was home price appreciation. 

Read More

How To Say Goodbye To Renting And Hello To Home Ownership

How to Say Goodbye to Renting and Hello to Home OwnershipWRITTEN BYREALTY TIMES STAFFPOSTED ONTHURSDAY, 23 AUGUST 2018 17:15Becoming a first-time homeowner takes a lot more than a desire to buy a

Read More