Record-setting, never before seen, shattering. These are the many ways to describe what’s still happening in the real estate market. Sustained home price gains continue to put sellers in the driver’s seat.
CoreLogic reports the year-over-year numbers have reached their highest levels in 15 years. In some cases, home sale price gains are outperforming last year’s data by a 2-1 margin.
March’s price gains jumped 13% annually, according to a national survey. They also represent a modest increase from the previous month. Everywhere you look, home appreciation is on the rise, supplying homeowners with growing equity they can use for a refinance or to boost their bottom line if they decide to sell.
Forecasters do not see any slow down to the current massive home demand. Even as interest rates increase, people are lining up for a chance to own a home of their own. The tension on home prices is also expected to resume. There’s been very little movement to inventory, which is still historically low.
Despite the challenges, there are plenty of opportunities in the market, especially if you’re already a homeowner.
Whether you’re thinking about refinancing your home to make the most out of your home equity or you are ready to put your home on the market, we can help. Many customers are taking advantage of their increasing home equity, which has resulted from the years of expansion. Equity creates financial wiggle room at a low cost. This means homeowners can take on a home renovation, consolidate debt or make other big purchases by folding in a second loan into their mortgage.
Or, some homeowners might be ready to move on and sell their home for a variety of reasons. Whether you’re thinking about upgrading or finding a smaller place that meets your current needs, we can help with any and all of your real estate needs.
Our home loan services look toward the future. We embrace new technology and adjust to the market. With our team on your side, we will guide you through every step and keep you informed so you can make the right move. Together, we can help you reach your goals and plan for the next big thing.