A Look at Home Price Appreciation and What It Means for Sellers No matter the industry, anytime there’s more demand than supply, prices naturally rise. It happens because buyers are willing to pay more to secure the scarce product or service they’re looking for. That’s exactly what’s happening in today’s real estate market. Buyers are competing with one another to purchase a home, leading to bidding wars that drive prices up. For sellers, the rising prices mean opportunity is knocking. According to Quicken Loans, the national average home price appreciation rate is between 3-5% in a typical year. Today, home prices are appreciating well beyond the norm thanks to high demand. Compared to the normal pace of 3-5% appreciation per year, the current average forecast of nearly 11.5% is significant. For sellers, this means that with the current rise in prices, your house may be worth more than you realize. That... #Bgroup #Prescott #Realtor #Homes #Smart
Brad Bergamini
A Look at Home Price Appreciation and What It Means for Sellers No matter the industry, anytime there’s more demand than supply, prices naturally rise. It happens because buyers are willing to pay more to secure the scarce product or service they’re looking for. That’s exactly what’s happening in today’s real estate market. Buyers are competing with one another to purchase a home, leading to bidding wars that drive prices up. For sellers, the rising prices mean opportunity is knocking. According to Quicken Loans, the national average home price appreciation rate is between 3-5% in a typical year. Today, home prices are appreciating well beyond the norm thanks to high demand. Compared to the normal pace of 3-5% appreciation per year, the current average forecast of nearly 11.5% is significant. For sellers, this means that with the current rise in prices, your house may be worth more than you realize. That... #Bgroup #Prescott #Realtor #Homes #Smart - 928-227-8575
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