Great Time to Purchase a Home

CoreLogic has just reported their national Home Price Index, and it shows that home prices are forecasted to increase by 4.8% over the next year.  Their last annual forecast was 4.7%, so this indicates that they are seeing continued demand and strength in the housing market.

Looking in the rearview mirror, national home prices have increased by 3.7% over the last year.  This is a good number and shows strong annual home appreciation.  Based on their data, a $300,000, home on average, should have gained $11,100 in value!  (Note: This is a general example that can fluctuate depending on the region of the country, but this is a strong national increase nonetheless.)

Home appreciation is proven to be a great way for households to increase their wealth. Looking at forecasts of what is to come, the picture is getting even better.  Low interest rates and strong levels of appreciation make this a great time to purchase a home.