Home values rose dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices increased by 6.2% year-over-year.
CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home price.
The chart below shows the four price ranges from the report, as well as each one’s year-over-year growth from July 2017 to July 2018 (the latest data available).
It’s important to pay attention to how prices are changing in your local market. The location of your home is not the only factor which determines how much your home has appreciated over the course of the last year.
Lower-priced homes have appreciated at greater rates than homes at the upper ends of the spectrum due to demand from first-time home buyers and baby boomers looking to downsize.
If you’re planning to list your home for sale in today’s market, find out FAST & FREE what your home is worth today! Click HERE now! Questions about the housing market in your NJ local area? Call Team Nest Builder’s Lynn Garafola at 973-222-3777 today! Also, take a look at our current Seller Guide for loads of helpful home-selling advice.
Liked this article? Check out our blog for loads of helpful information on real estate, home improvement and community events!