Home Prices in 2016 Are Projected to Rise: Consider Buying Sooner Than Later
As we head into 2016, we thought it would be a good idea to take a look at some of the predictions from industry experts we trust. While it’s hard to say for certain what lies in store for the year ahead, there are some notable highlights including the percentage of positive home equity that has been seen throughout the country.
According to the insightful infographic below (courtesy of KCM.com), 91.9% of homes in the US have achieved positive equity status. This is great news for those who have become homeowners in recent years. In 2015 over 256,000 homes regained equity in the third quarter. And a total of 37.5 million homes throughout the United States have actually gained a significant amount of equity, meaning the value of those homes increased in value of 20% or higher.
If purchasing a home is on your list, you may want to act sooner than later before home rise even higher.
But don’t just take our word for it. Here are the stats:
For more of our perspective on this subject read our recent blog, “Millennials: Don’t Let Mid-range Fico Scores Prevent You From Buying a Home.”
Thinking of buying or selling a home in the La Jolla area? As consistent top producers in real estate, Linda Daniels and The Daniels Group are your La Jolla housing specialists. Working with The Daniels Group will give you with the advantage of having local experts to ensure that you have a successful real estate transaction. From buying, selling and investing to financing options and more, we have the expertise and resources to help you achieve your goals. Call us today at (858) 361-5561 or email us anytime by clicking here.