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CoreLogic released their most current Home Price Index last week. In their report, they revealed home appreciation in three categories: percentage appreciation over the last year, over the last month and projected over the next twelve months. Because they are looking at the nation as a whole, when you view these maps think in terms of generalities instead of your personal neighborhood. The percentages will vary, sometimes considerably, depending upon your specific location. However, the information can be helpful in guiding your plans for the coming year. You can see from the maps below the trend in Washington State as a whole has been very strongly upward and will continue to rise through 2016.
Here are state maps for each category:
The Past – home appreciation over the last 12 months
The Present – home appreciation over the last month
The Future – home appreciation projected over the next 12 months
Bottom Line:
Homes across the country are appreciating at different rates. Are you thinking of buying but hesitating to take that step? Don't let value appreciation over the coming months price you out of the market! If you plan on relocating to another state and are waiting for your home to appreciate more, use the guide to help determine whether the home you plan to buy in another state may be appreciating even faster. This would be a good time to meet with a local real estate professional who can help you determine your next steps. And, as always, if I can answer any questions for you, please don't hesitate to let me know. I am here to help!
