Why Are Rising Home Prices a Good Thing
Today, many real estate conversations center on housing prices and where they may be headed. As we’ve mentioned before, in Denver, the current seller supply (homes for sale) cannot keep up with the number of buyers who are actively looking for homes, which has caused prices to rise.
The great news about rising prices, however, is that, according to the latest Home Price Expectation Survey the annual appreciation of homes nationwide is expected to average 3.6% over the next 5 years.
How Does This Help You?
Taking advantage of the current, and future home appreciation rates may be one way to dramatically improve your financial position. History has shown that home ownership is a clear path to building wealth. Let’s assume that a family purchased a $250,000 home in January. What will their home be worth 5 years down the road? This graph shows us the potential growth in family wealth over the next 5 years based solely on increased home equity.
If you, or someone you know, is looking to better your family’s long-term financial situation, selling your house and buying your dream home might be a great option.
Article Courtesy of: Lori Richardson – Home Loans by Lori – August 2017