Did you know that the concentration of renters in a neighborhood can impact property values? Generally, a low concentration of renters and a higher percentage of owners is best for rising values.
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The Federal Housing Finance Agency recently released year-end price figures. Just click on the image below to explore an interactive map with the most up-to-date rates of change in home values, as well as appreciation rates over a number of different time periods. Data at this site is updated quarterly, so feel free to bookmark it for easy access.
Understanding recent and long-term trends can help you remain an informed consumer, whether you’re comfortable in your home or considering to move to a new home.
If you have questions or if we can ever be of service to you, your family and your friends, please let us know. We are here to help and happy to do so.
For the past two years, mortgage brokers nationwide have been seeing increasingly greater increases in home prices. In February, the average price of a home was up 12.2 percent over February of 2013. This was also .8 percent over the previous month.
The greatest rises in price were experienced in California, which saw an appreciation of 19.8 percent, Nevada, with 18.5 percent, Georgia, with 14.2 percent, Oregon, with 13.8 percent, and Michigan, with 13.5 percent. Meanwhile, there were no states reporting a negative annual appreciation.
According to CoreLogic president and CEO Anand Nallathambi, “The consistent upward movement in home prices should ultimately prove to be an important stimulant for higher levels of sustained market activity and growth in the housing economy.” With this in mind, and considering the continued lack of home inventory, CoreLogic is expecting prices to continue to rise throughout the year, but at a more moderate pace.