According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks the fifth month in a row with at least a 6.9% increase.
Dr. Frank Nothaft, Chief Economist for CoreLogic, gave insight into the reason behind the large appreciation,
“The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices.”
This is great news for homeowners who have gained nearly $15,000 in equity (on average) in their homes over the last year! Those homeowners who had been on the fence as to whether or not to sell will be pleasantly surprised to find out that they now have an even larger profit to help cover a down payment on their dream homes.
As we near the traditionally busy spring buyers season, there is still hope for buyers as mortgage rates remain low compared to recent decades. The report also predicted that home price appreciation will slow slightly, rising by 4.3% by this time next year.
Bottom Line
If you are looking to enter the housing market, as either a buyer or a seller, let’s get together to go over exactly what’s going on in our neighborhood and discuss your options!
Hi, I am Chrysti. I am a Fair Oaks based REALTOR® and Real Estate Advisor who believes real estate works best when it feels human, calm, and supported. If you like a big sister energy kind of guide, you and I will get along just fine.
I have lived in the Sacramento and Placer foothill communities for more than three decades, and I care deeply about the people and stories here. I created I Love Fair Oaks because this town has a heartbeat, and I wanted a place to celebrate it. That work spills naturally into real estate because helping people move through life with clarity and confidence is what I love most.
My background includes real estate, mortgages, title, photography, design, and marketing. All of that helps me protect my clients and make the process feel as smooth as possible. When things get confusing, I explain. When things get stressful, I steady the room. When you need someone in your corner, I am right there with you.
I serve Fair Oaks, Orangevale, Carmichael, Gold River, Folsom, Granite Bay, Roseville, Rocklin, and the foothill communities that surround them. If you are planning a move or exploring what is next, I am here to help you find your way.
Contact916 320 2663c@chrystitovani.comCA DRE 01118449eXp Realty of California
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