What’s the Median Home Value in Your State?

-

If you’ve entered the real estate market as a buyer or a seller, you’ve inevitably heard the mantra “location, location, location” in reference to identical homes increasing or decreasing in value based on where they’re located.
In today’s housing market where home prices are appreciating quickly, it’s important to know that not every home appreciates at the same rate. The map below demonstrates that point on a state-by-state basis using data from the National Association of Realtors.

Demand often dictates value, even for houses in the same area of the country! High demand for starter and trade-up homes have driven prices up in these categories by nearly 10% over the past year, while those in the premium markets have appreciated at closer to 6%.

Bottom Line

If you are debating whether or not to buy and/or sell a home this year, let’s get together to help you figure out exactly what’s going on in our market.
Powered by WPeMatico

For More Info : Visit Here : Home For Sale NC

Comments

Post a Comment

Popular posts from this blog

You Need an Agent Who Will Always Put You First

-
Image
Whether you are a rookie homebuyer or have gone through the process many times, having a  local real estate expert  who is well versed in the neighborhood you are looking to move to, as well as the trends of that area, should be your goal while home shopping. One great example of an agent who is in your corner and is always looking out for your best interests is one of the main characters on  ABC’s  Modern Family ,  Phil Dunphy. For those who aren’t familiar with the character, Phil is a REALTOR ®  with a huge heart who always strives to do his best for his family and his clients. In one episode, he even shared an oath that he created and holds himself accountable to: “On my honor, I promise to aid in man’s quest for shelter, to recognize I’m not just in the business of houses — I’m in the business of dreams in the shape of houses. To disclose all illegal additions, shoddy construction, murders, and ghosts. And to put my clients’ needs befor...
Read more

The #1 Reason to Put Your House on The Market TODAY!

-
Image
The  National Association of Realtors  (NAR) released the results of their latest  Existing Home Sales Report  which revealed that home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year ago. Some may look at these numbers and think that now is a bad time to sell their house, but in fact, the opposite is true. The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are  out in the market  looking for their dream homes! In fact, the inventory of homes for sale had fallen year-over-year for 36 consecutive months before posting a modest 0.5% gain last month and has had an upward impact on home prices. NAR’s  Chief Economist  Lawrence Yun had this to say, “It’s important to note that despite the modest year-over-year rise in inventory, the current level is far from what’s needed to satisfy demand levels. Furthermo...
Read more

The COST of Your Next Home Will Be LESS Than Your Parents’ Home Was

-
Image
There is no doubt that the price of a home in most regions of the country is greater now than at any time in history. However, when we look at the cost of a home, it is cheaper to own today than it has been historically. The Difference Between PRICE and COST The price of a home is the dollar amount you and the seller agree to at the time of purchase. The cost of a home is the monthly expense you pay for your mortgage payment . To accurately compare costs in different time periods, we must look at home prices, mortgage rates, and wages during each period. Home prices were less expensive years ago, but paychecks were also smaller and mortgage rates were much higher (the average mortgage interest rate in 1988 was 10.34%). The best way to measure the COST of a home is to determine what percentage of income is necessary to buy a home at the time. That would take into account the price of the home, the mortgage interest rate and wages at the time. Zillow just released researc...
Read more