Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 7.1%. CoreLogic, in their most recent Home Price Insights Report, reveals that national home prices have increased by 6.9% year-over-year.
The CoreLogic report broke down appreciation even further into four different price categories:
- Lower Priced Homes: priced at 75% or less of the median
- Low-to-Middle Priced Homes: priced between 75-100% of the median
- Middle-to-Moderate Priced Homes: priced between 100-125% of the median
- High Price Homes: priced greater than 125% of the median
Here is how each category did in 2016:
The lower priced homes (which are more in demand) appreciated at greater rates than the homes at the upper ends of the spectrum.
My name is Paul Bryant and I specialize in assisting buyers and sellers in Real Estate transactions. My areas of expertise include Columbia,Lexington, West Columbia, and surrounding areas. As your REALTOR®, I will work hard to justify your confidence and generate the results you deserve. Through my determination, research and 100% follow-through, you can be assured that you will receive the best possible service and a clear look at all of your options. Whether you are selling, buying or just have a question, I invite you to call me today at 803.361.0585 or visit my website PaulBryantWorks.com.