Home Values Hit All Time High In Nearly Two-Thirds Of Markets Across The US
According to a recent report from the National Association of Realtors, home values hit all time high in 64% (or nearly two-thirds) of the markets across the United States. Single-family home prices increased in an astonishing 92% of markets, with 15% of metro areas seeing an increase of 10% or more.
While these price increases are clearly bad news for buyers, they’re excellent news for sellers—especially sellers who struggled with negative equity after the recession.
According to a recent CoreLogic report, Evaluating The Housing Market Since The Great Recession, the average house price is now 1% higher than it was at the peak of the real estate market in 2006, which means even homeowners who purchased at the peak of the pre-recession bubble have recovered their home value.
If you’ve been thinking about selling your home, now is the time to do it. With home values at an all-time high and low inventory ramping up competition among buyers, there’s never been a better market to get the most value for your home.