Home prices are continuing to rise. What does that mean for you?
Today I’ve got the July edition of the Hot Off The Press Market Report. It’s real juicy this month, and we’re going to focus on pricing because prices continue to be an issue.
Prices are continuing to rise, and we’re going to see more and more headlines about prices as we move through the rest of the summer. However, they’re going to be talking more about the challenges of these rising prices.
Right now, interest rates are said to be rising, so buyers are a little nervous. This is not just the first-time homebuyer that’s nervous, but the trade-up seller that’s also being affected. Prices are higher than they were during the housing boom in 2006.
Some people are saying that this is evidence of the housing market heading for another crash. That is not the case. When you compare the current price increases with what normal appreciation would have looked like if there wasn’t a bust in 2008, then we’re right on track with current prices.
Home values are where they should be, and now is the time to sell. In the last 12 months, prices have gone up 6% nationally and, in most markets, the level of appreciation is actually accelerating.
There will be a surge in prices in this fall market, so get me to your home right now so we can get your home ready to sell by the time fall comes.
We offer a free room-by-room consultation online at FreeRoomByRoom.com, and if you’re thinking of selling in 2018, come to our next Home Selling Sharks Seminar. Our next seminar is October 14, 2017 at 8:30 a.m. at the Hilton Garden Inn in Fort Washington, PA.
If you have any other questions or you’re looking to buy or sell your home, give us a call. We’d be happy to help!