Marshall Realty Blog 10-26-16 The Great News About Rising Prices
According to CoreLogic’s latest US Economic Outlook, this rise in real estate prices is a great thing! The average American household gained over $11,000 in equity over the course of the last year, largely due to home value increases.
For those that 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, and even invest in starting small businesses, allowing them to pay off their mortgage sooner or move up to the home that will better suit their needs now.
CoreLogic predicts that home prices will appreciate by another 5% by this time next year. If you are a homeowner and want to know how much equity your home has Marshall Realty’s team of expert real estate agents can help.