Home Prices Increase in Every Price Range
CoreLogic’s Home Price Index (HPI) Report revealed,
“National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.”
They also analyzed four individual home-price tiers, showing the increase in each.
Here’s the breakdown:
To clarify the methodology, CoreLogic explains,
“The four price tiers are based on the median sale price and are as follows: homes priced at 75% or less of the median (low price), homes priced between 75% and 100% of the median (low-to-middle price), homes priced between 100% and 125% of the median (middle-to-moderate price) and homes priced greater than 125% of the median (high price).”
What does this mean if you’re selling?
Price appreciation can differ depending on your price range. If you’re a homeowner thinking of selling, contact us to find out how much your home is increasing in value, so you can price it competitively for today’s market.