Great News for Existing Homeowners. Home Price Appreciation Predictions show they will continue to go up at a slower pace. To follow 3-year live home prices trends in Metro Detroit, follow Metro Detroit Home Experts below.
In any industry, when there are more buyers for an item than there are of that item available, prices naturally rise. In those situations, buyers are willing to pay more to get the product or service they’re looking for when options are scarce. And that’s exactly what’s happening in the current real estate market.
Selma Hepp, Executive, Research & Insights and Deputy Chief Economist at CoreLogic, puts it like this:
“With so few homes, buyers are once again left with fierce competition that’s driving the share of homes that sold over the listing price up to 66% . . . With the continued imbalance between supply and demand, home prices are likely to have another year of strong gains and are expected to average about 10% growth for the year.”
Because it will take some time for the housing supply to increase, experts believe prices will continue rising. The latest Home Price Expectations Survey forecasts what will happen with home prices over the next 5 years. As the graph below shows, while the rate of appreciation will moderate over the next few years, prices will continue rising through 2026:
What This Means When You Sell Your House
If you’re a homeowner, the projection for continued price appreciation this year opens up an opportunity to move. That’s because it may give your equity a major boost. Equity is the difference between what you owe on your house and its market value. The amount of equity you have increases as you make your monthly payments and as rising home prices drive up the market value for your home.
Growing equity is a powerful tool for homeowners. When you sell your house, the equity you’ve built comes back to you in the sale. That money could be enough to cover some (if not all) of your down payment on your next home.
Of course, if you want to know how much equity you have in your current house, it’s crucial to work with a real estate professional. They follow current market trends and can help you understand your home’s value when you’re ready to sell.
What This Means for Your Next Purchase
But today’s rising home values aren’t just good news if you’re ready to sell. Because price appreciation is forecast to continue in the years ahead, you can rest assured your next home will be an investment that should grow in value with time. That’s one of several reasons why real estate has been rated the best investment in a recent Gallup poll. If you’re concerned about the rising mortgage rates I have a solution that will help.
Find Out How I Can Save You Thousands in Closing Cost
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We are just in a little pump in the road for mortgage rates and you’re in shock over the huge increase. As a solution to help you over the pump, as a Keller Williams agent I can help you save thousands in closing costs with our Keller Mortgage Zero Plus 3 ways.
1.When you buy you save thousands 2. You can offer potential buyers for your home Zero Plus so they can save thousands. This is a great incentive to keep them focused on your property and not your competition. 3. When mortgage rates go down you can save thousands again and lower your monthly payment…Win ~ Win. It’s your money, we need to put it to work for you, not the lender.
💥 Important 💥 This is Where You Track Home Prices and Housing Inventory Levels (Supply and Demand)
👈👈👈 Video Provided: Do You Need to Sell 1st? Not Sure Where to Start?
First, you need to be brought up to speed on what’s going on in the Housing Market. I update this report on the 15th of the month. It has everything you need to determine the Market You’re In and review your City’s 3-year live trends regarding prices. Better yet, you can even review Sold properties and not rely on the online estimates.
I’ve provided additional videos regarding the housing market and how you can benefit from all the tools on this page. Whether you’re selling or buying real estate now or later. I recommend keeping up to date and protecting your real estate investment. It’s essential to follow the Housing Market Trends for Metro Detroit and know The Market You’re In, and it’s the only way you’ll know your true Negotiation Power.
Your 🔑 To Home Selling and Buying Success ~ Safe eGuides
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Don’t muddle through the Home Buying and Selling Process. Buying a new home is a dream for all of us, and it’s an emotional and stressful process.
It also involves the most significant financial transaction you probably will make in your lifetime. Your Buying Guide…will walk you through tips, strategies, and how to understand the numbers to strengthen your negotiation power.
Your Selling Guide…It will help you work through the selling process using the latest in high-tech market tools, so you make MORE Money. Our goal is to separate your home from the competition, keep Buyers focused on your house. The Selling Guide is very detailed and works step-by-step, so you’re guaranteed Top Dollar for your home.
Bottom Line Home Price Appreciation Predictions
If you’re weighing whether you should sell your house this season, the rising home values are providing an opportunity to use equity to fuel your move. Let’s connect so you can find out how much your home is worth and learn more about all the benefits you have in today’s market.
Simplifying Real Estate Through Education
As we move forward, it’s been challenging as we navigated through all the changes. Putting your dream of a new home on HOLD shouldn’t be one of them. Now more than ever, knowledge will be your power. Know the Market You’re In and your Negotiation Power. Check out Categories for additional updates regarding the Market | Buying | Selling
If You Need To Sell 1st… I Recommend 🛑Doing This!
No 2 homes are alike, and agents need to 🛑 marketing ONE size fits all. We no longer have an exposure problem (internet). Your home is buried on public home search internet sites. The only way to compete on those platforms is the price. If you want more money, you need to apply Influence. Separate your home from the competition, so the Buyer sees value. Keeping them focused on your property and not getting lost in homes’ inaccurate data on public internet sites is necessary. Having digital omnipresence on serval platforms is your key to success. Remember MORE INFLUENCE = MORE 💰. We have details on how you can utilize High Tech Marketing and Win!
If you have any questions, contact us: Chatbot 🤖 at the bottom. Contact me by Email 📩 or my Cell 📲 @ 248-343-2459. Would you mind sharing your thoughts below or what future article you would like to see? Your opinion is important to us…. this site is for you.🤩 To Keep up to date request our 🏡 Chat Newsletter or Follow us on Facebook, Instagram, or YouTube