What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

Amy Small

Find Your Next Home











Amy Small

Coldwell Banker

Low Inventory Pushes Home Prices Higher

February 13, 2018



Keeping Current Matters

According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks the fifth month in a row with at least a 6.9% increase.

Dr. Frank Nothaft, Chief Economist for CoreLogic, gave insight into the reason behind the large appreciation,

“The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices.”

This is great news for homeowners who have gained nearly $15,000 in equity (on average) in their homes over the last year! Those homeowners who had been on the fence as to whether or not to sell will be pleasantly surprised to find out that they now have an even larger profit to help cover a down payment on their dream homes.

As we near the traditionally busy spring buyers season, there is still hope for buyers as mortgage rates remain low compared to recent decades. The report also predicted that home price appreciation will slow slightly, rising by 4.3% by this time next year.

Bottom Line

If you are looking to enter the housing market, as either a buyer or a seller, meet with a local real estate professional who can explain exactly what’s going on in your neighborhood and discuss your options!


Tags:

Featured Listings

sold
One-of-a kind Chatsworth mountain paradise located on approximately 1.4 acres. Features include 30' waterfall, lagoon pool, guest house with its own laundry room, and so many more. Call Amy today for showing details.
$899,000
sold
4
beds
2.5
baths
1,639
Sq Ft
sold
Amazing, custom built South Of Ventura Blvd. hillside view home. All rear facing rooms have a spectacular view of the mountains. Bedroom 2 has its own entrance. Beautiful open layout with too many features to mention. Call Amy today for easy showing!
$1,279,000
sold
2
beds
2.5
baths
2,414
Sq Ft
listed
Beautiful, completely remodeled 1 bedroom 1 bathroom Condo. in 20 Unit complex
$350,000
listed
1
beds
1
baths
687
Sq Ft
listed
Lovely 5 -Bedroom (2 downstairs) 3-Bathroom home with Poll and amazing grotto area. To many lovingly added features to mention! Call Amy today for information!
$979,000
listed
4
beds
3
baths
2,386
Sq Ft

Recent Posts

Get Started!