Annual Home Value Appreciation
Spring is about to kick into high gear and with it, the prime season for buying and selling homes. It’s about time for a change. Over the winter, new housing rules went into effect, which notably affected existing home sales, and inventory remained low. The supply of homes for sale is still tight, but it’s on the rise—as are aspirations for homeownership. With winter virtually on its way out the door, can buyers and sellers expect the market to warm up with the weather?
Well, there’s still a nip in the air: National home values are currently 6.4 percent below the pre-recession peak. That’s down 0.4 percent from January and good news for buyers.
There is some good news for sellers, too: From January 2015 to January 2016, home values appreciated across the country, with increases varying between 0.6 percent (Washington, D.C.) and 15.4 percent (Denver).
Posted on March 25, 2016 at 1:29 am by John Wesley Brooks & The Brooks Family Of Realtors