What is up with home prices?

 In 1991, the average median home price was $101,000, and the average appreciation rate since then has been 4%. This has been consistent except between the years 2002 and 2008 when the market appreciated above the moving average. Following that period, we were below the line up until this year. Home prices could stay above that line for another six years before the market corrects itself.

“Now is a great time to buy or sell a home.”

If this pattern continues as it has since 2002, this could be the start of a new trend, meaning that now is a great time to buy because prices could continue to increase. If you’re looking to sell for any reason, now is also the time to do it because sales prices are at an all-time high. 

Whether you’re looking to buy or sell, if you have any questions, don’t hesitate to reach out to us via phone or email. We’d love to be your resource.