April 8, 2024

CoreLogic Home Price Insights Point To Strong ROI

CoreLogic released their US Home Price Insights report for the month of February. It showed that home prices rose 0.7% for the month after falling 0.1% in January. This was certainly a strong number. Year over year, CoreLogic reported that home prices are now up 5.5%, which is a slight decrease from 5.8% in the previous report but still very healthy and shows a resilient housing market.

Interestingly, there is a similar pattern to last year where appreciation went negative in December and January, but then started to rise again in February. In CoreLogic’s housing market forecast, it is expected that home prices will rise 0.4% from February to March and 3.1% from February 2024 to February 2025, which is an increase from 2.6% in their previous report.

Even though this expected appreciation is lower than the prior year, 3.1% appreciation is very meaningful. For instance, if you purchased a $400,000 home today, that same home would be worth $412,400. If you took things a step further and put 20% or $80,000 down to get that home, you just made yourself a 15.5% return on investment in one year! Keeping an eye on these numbers is recommended as they can get even stronger than this.

Source : https://bit.ly/3VGL0dZ

By: Jon Iacono
A Family

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