The Case-Shiller Home Price Index, which is for the month of July, showed that homes across the nation appreciated over the last twelve months by 3.2%. This index also pulls information from twenty major cities across the country and showed an annual appreciation of 2.0%.
CoreLogic has also released their monthly appreciation report, which shows that homes across the nation have appreciated by 3.6% from August of last year to August of this year. They are forecasting that homes will appreciate by a whopping 5.8% from August 2019 to August 2020!
It is apparent that homes are continuing to appreciate and continuing to add equity for those purchasers who were able to get into the housing market. This continued appreciation is due to the low interest rate environment, coupled with high levels of buyer demand. These reports both point to the fact that this is still a great time to purchase a home.
Sources:
http://bit.ly/35lJK3a
http://bit.ly/33l1ppN
By: Jon Iacono