Home Price Appreciation
Appreciation is the increase in the value of an asset over time. The increase can occur for a number of reasons including increased demand or weakening supply, or as a result of changes in inflation or interest rates,” (Investopedia.com
Home appreciation is a major part of homeownership. One of the perks of buying a home is watching the appreciation of the property over time as your equity grows. Recently, home prices in general have continued to increase although at a slower pace.
What does this mean? For homeowners and potential sellers, it means the value of the home and listing price could be higher than anticipated. It could be a great time to sell and take advantage of your home’s value. And for borrowers, it could be the right time to jump into the market since rates are still low. While prices are higher, getting your stake in the market and beginning to build your own equity could be your key to financial success.
Contact us today to talk to your trusted mortgage professional to discuss the right options for you and your financial future.