What’s happening in our market and what you can expect going forward.
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The numbers are in for July home appreciation, and you are not going to believe them. We’re talking about the July year-over-year home value appreciation, which means we’re comparing the values in July 2020 against the home values in July 2021. We’re seeing at least an average of 18.9% home value appreciation nationally. This is a huge increase! Let’s dig into the details of this massive rise and where our market is headed.
You can watch the full message above or skip to topics that interest you using the timestamps provided below for your convenience:
1:31 — The numbers broken down by state
1:52 — Rhode Island, Connecticut, Massachusetts, and Vermont
2:33 — What’s coming up next?
2:58 — Deceleration is not depreciation
4:10 — What we’re expecting over the next five years
5:07 — What are the mortgage rates doing, and what do we expect?
6:55 — The economy is improving, but there are supply chain issues
7:36 — Rates since January of 2020
8:22 — Rates are still great compared to historical interest rates
9:00 — Why are we talking about this?
9:30 — For any of you in forbearance, don’t give up!
9:54 — Wrapping up
I hope this update helped you understand the market a little more. If you have questions about this update or any other real estate topics, feel free to give me a call. I would love to help.