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Appreciation Rates: Where They Were, Where They Are, and Where They're Going


Over the past five years, home prices have appreciated dramatically. Today, I’d like to take a look at where they are now and what we can expect from the future.


 Today, we’re going to take a look at where home prices were five years ago and where they are now. It’s hard to believe what a difference those few years made. 

 From December of 2012 until December of 2017, home prices increased 37.4% on a national level. Local appreciation varied between states, as you can see in the graphic I’ve included in the video above, but the overall change constituted a fantastic recovery.  

 In Virginia, prices appreciated by 15% over that five-year span. Florida, which had been heavily affected by the crash, saw an appreciation of 46% over that same period. Even more impressively, Nevada saw an appreciation of 66%. 

 There isn’t one state that has gone backward, so we are definitely trending in the right direction. For all of you out there who love data, you can find some additional information on price projects here. 
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It looks as though home prices will continue to appreciate for the foreseeable future.

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One thing I do want to note, though, is that economists predict prices to increase by an additional 18.2% over the next five years. The Bulls are actually predicting a 27.4% increase, while the Bears predict an increase of 8.3%. Ultimately, all of this is dependant upon the global economy. If unforeseen circumstances arise, these predictions could change. 

 Still, so far it looks as though home prices will continue to appreciate for the foreseeable future. This means that right now is a great time to buy while prices are still low. It’s also a great time to list, since now is one of the best times to move up in years. Inventory is low, which means homes that are on the market often see great success.

 If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

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How Soon Is the Next Housing Bubble?


Many are concerned that we’re about to see another housing bubble, but is this really the case?


 Since 2012, home prices have significantly increased. As this trend continues, many are wondering when it will stop. Is a housing bubble on the horizon?

 According to economists, the next housing bubble isn’t expected to hit until 2024. This means there are six years to prepare. 

 Freddie Mac’s chief economist Sean Becketti has said, “The evidence indicates there currently is no house price bubble in the U.S., despite the rapid increase of house prices over the last five years.” 

 Other economists have shared similar opinions. Christopher Thornberg, a partner at Beacon Economics, says “There is no direct or indirect sign of any kind of bubble.” 
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The rise in prices is something buyers are certainly paying attention to.

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While we may not be headed for a bubble in the near future, the rise in prices is something buyers are certainly paying attention to. Of course, there’s no way to accurately predict what will happen to our market or our economy. 

 Also, interest rates are going up for the first time in years. You can find more information about today’s interest rates here. 

 The rise in interest rates is yet another factor that could impact purchasing power, which could cause further pressure on housing prices. 

 If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

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What Makes Now the Perfect Time to Buy or Sell in Our Market?


Now is a great time to buy in our market. This fact also makes it a great time to sell.

Selling a home? Click here for a FREE Home Price Evaluation

Now is a great time to buy a home in our market, and because of that, it’s also a great time to sell. Let me explain.

For the first time in years, mortgage rates are going up significantly. Why? Because the economy is improving significantly. There’s a direct correlation there—as the economy improves, interest rates rise.

If you’re a buyer and you want to get the cheapest financing possible to buy your home, you need to buy now. Freddie Mac is forecasting that interest rates will be close to 5% by the end of the year.

Take advantage of this situation before the spring market hits.

Buyers need to act quickly and start buying homes, but there’s very little inventory available out there. There are more buyers than there are homes to sell, which is what makes now a great opportunity to sell as well. If you list now, you won’t have nearly as much competition as you would in the spring.

Furthermore, according to the National Association of Realtors’ Chief Economist, Lawrence Yun, “The pool of interested buyers at the end of the year significantly outweighed what was available for sale.”

Now is the perfect storm for buying and selling, so if you’re thinking about doing either, take advantage of this situation before the spring market hits.

If you have any questions about the state of our current market or you’re thinking of buying or selling a home, don’t hesitate to reach out to me. I’d be happy to help you.


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