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Home Appreciation Continues

When looking at the housing market, a great report to track is the CoreLogic Home Price Index.  This index currently shows that homes increased in price by 0.5% in the month of November and by 3.7% from November ‘18 to November ‘19.  Some of the hottest appreciation increases for the year were seen in Maine and West Virginia.  CoreLogic also offers a new metric where they forecast homes appreciating. For this report, they are seeing a gain in price of 5.3% over the next year.  Doing the math, at 5% appreciation, a $300,000 home will be worth $315,000 next year.  That is a gain of $15,000 in value!

Also, a study done by CoreLogic and RTi Research shows that millennials aged 30-38 are strongly considering “moving” in the next twelve months, and 64% plan on purchasing a home.  When looking at younger millennials (ages 21-29), less than half of them are planning on buying their next home. 

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Source:

www.corelogic.com