Real Estate
If you're thinking about selling your house, recent headlines about home prices may have you second guessing your decision.
Here's the context those headlines are missing.
While moderating in recent months, the percent of price appreciation year-over-year is still well above more normal years in the market.
$ More Normal Years (January 2019-mid-2020): 3-4% appreciation
$ Latest Data: Almost 10% appreciation
What This Means if You're Thinking of Selling Your House
In most markets, your home's value, on average, is up almost 10% over last year - and a 10% gain is still dramatic compared to a more normal level of appreciation (3-4%). That gives you equity you can use to power a move.
"Potential home sellers gained significant amounts of equity over the pandemic, so even as affordability-constrained buyer demand spurs price declines in some markets, potential sellers are unlikely to lose all they have gained."
Mark Fleming
Chief Economist, First American
Some Highlights
If you’re thinking about selling your house, recent headlines about home prices falling month-over-month may have you second guessing your decision—but perspective matters.
While home prices are down slightly month-over-month in some markets, home values are still up almost 10% nationally on a year-over-year basis. A nearly 10% gain is still dramatic compared to the more normal level of appreciation, which is 3-4%.
Let’s connect to find out how much equity you have in your current home and how you can use it to fuel your next purchase.
Stay up to date on the latest real estate trends.
Los Altos, nestled in the heart of Silicon Valley, offers a blend of suburban tranquility and natural beauty. For outdoor enthusiasts, the area boasts numerous hiking … Read more
After the election of Donald J. Trump, bond prices increased in anticipation of his inflationary policy positions. Interest rates are the most significant factor finan… Read more
Let’s talk about property taxes in California—a topic that often raises a few eyebrows and sometimes even a touch of confusion. But don’t worry; we’re going to break i… Read more
Explore Palo Alto’s incredible culinary scene with our guide to the best restaurants. Each place offers a unique experience, from the ambiance to the flavors that make… Read more
Moving to Los Altos offers more than just a beautiful place to live; it opens up a world of exciting dining. I’ll walk you through the top 10 restaurants that truly ma… Read more
You’ve got questions and we can’t wait to answer them.