jls_relo_logo_wt2023jls_relo_logo_wt2023Why It Pays To Be a HomeownerWhy It Pays To Be a Homeowner
  • Home
  • Relocation Services
  • Search Homes
  • National & International
  • Resources
    • Communities
    • Cost of Living
    • News Blog
  • Contact Us
✕
Greenbank Area Residential
Greenbank Area Residential – Featured Luxury Home
October 3, 2018
Expedia in Seattle
Amazon Leases Entire Expedia Tower
October 5, 2018
Published by jlspr on October 4, 2018
Categories
  • Business
  • Industry Trends
  • News
Tags
  • business
  • Homeowner
  • Housing Market
  • Industry Trends
Homeowner Pays

Why It Pays To Be a Homeowner

It pays to own a home – quite literally! The first half of 2018 was the most ferocious market we have seen since 2000. Competition between buyers, buyer demand, and overbidding created a huge jump in median sale prices. However, these huge equity gains could slow down especially with more homes expected to go on the market this fall. With buyers having more options, prices are less likely to skyrocket by bidding wars. Nationally homeowners saw increases in their equity by nearly $16,200 (about 12.3%) – from the past year alone.

Stats from smartasset.com broke down the findings a bit further.

  • California homes have appreciated the most – Six cities in California reached the top ten
  • Not all homes are increasing in value – Studies found in 11 cities across the country, home prices are depreciating. The bottom three are Baton Rouge Louisiana, Norfolk Virginia, and Miami Florida.

 

Therefore, the good news here is for existing homeowners. The additional wealth can be collateral for making home improvements. Unfortunately, it is not great news for those in the market looking to buy.

Click here to read the full article:

It Pays to Be a Homeowner: Here’s How Much Home Equity Shot Up

 

 

October Industry Trends: Discover More Great Articles Below

Survey: Most Buyers Seek Financing Before Showings

 Labor Shortages Push New Construction Costs Higher

 2018 Q3 Homeownership Opportunities and Market Experience Survey

 Housing Hurdles Taint Otherwise Healthy Economy

Share
0
jlspr
jlspr

Related posts

Photo by Dillon Kydd

September 19, 2023

Leaves will fall. Housing prices won’t, experts predict


Read more

Photo by Taneli Lahtinen

August 17, 2023

LONG-DISTANCE MOVERS: WHY THEY MOVED, AND HOW THEY FOUND NEW HOMES


Read more

Photo by engin akyurt

July 19, 2023

Homes selling near record high again as supply shortage worsens


Read more
© 2021 | John L. Scott Relocation