Keeping Current Matter

Rising Home Prices Mean Great News for Homeowners

Rising Home Prices Mean Great News for Homeowners | Keeping Current Matters

Recently there has been a lot of talk about home prices and if they are accelerating too quickly. As we mentioned before, in some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers who are out looking for homes, which has caused prices to rise.

The great news about rising prices, however, is that according to CoreLogic’s Homeowner Equity Report, the average American household gained over $14,000 in equity over the course of the last year, largely due to home value increases.

The map below was created using the same report from CoreLogic and shows the average equity gain per mortgaged home during the 1st quarter of 2017 (the latest data available).

Rising Home Prices Mean Great News for Homeowners | Keeping Current Matters

For those who are worried that we are doomed to repeat 2006 all over again, it is important to note that homeowners are investing their new-found equity in their homes and themselves, not in depreciating assets.

The added equity is helping families put their children through college, invest in starting small businesses, pay off their mortgages sooner and even move up to the home that will better suit their needs now.

Bottom Line

If you are a homeowner looking to take advantage of your home equity by moving up to your dream home, contact an agent in your area to discuss your options!


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U.S. Housing Inventory Hits a New Low… List Your House TODAY!

Every summer, families across the country decide if this will be the year they sell their current house and move into their dream home.

Mortgage rates have hovered around 4% for all of 2017, forcing buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale have dropped dramatically as compared to this time last year.

Trulia reported that “U.S. home inventory has tumbled 8.9% over the past year and has now fallen for nine consecutive quarters.” There is now 20% less inventory than there was five years ago.

Here is a chart showing the decrease in inventory levels by category:

U.S. Housing Inventory Hits a New Low… List Your House TODAY! | Keeping Current Matters

Bottom Line

Demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level. If you are thinking of selling in 2017, now may be the perfect time.


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Singles Are Falling for Their Dream Home First [INFOGRAPHIC]

Singles Are Falling for Their Dream Home First [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • According to NAR’s Profile of Home Buyers & Sellers, the share of recent homebuyers who were single at the time of purchase held steady at 24% last year.
  • The percentage of first-time buyers who were single females rose to 17% (up from 16%), as the share of single men dropped from 11% to 8%.
  • The primary reason for buying a home amongst singles was the desire to own a home of their own (38% for women and 37% for men).

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The REAL Team
Keller Williams Realty South Shore
Sales Team: (813) 786-7010
www.BestTampaBayHomes.com
www.facebook.com/BestTampaBayHomes

The REAL Team

Jan Hungate, Trudy Thompson, Natalie Fernandez, 
Evelyn Pendleton, Monica DeSomma

Contact Us

The REAL Team
Keller Williams Realty South Shore
(813) 786-7010
109 Harbor Village Lane
Apollo Beach, Florida 33572

Sales@BestTampaBayHomes.com
813-786-7010







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Jan Hungate | Keller Williams Realty South Shore | Phone: (813) 786-7010 | Email Us
Apollo Beach,  FL 33572