Home prices have increased how much?
47 percent. That’s how much home values have increased since 2019. If you have owned your home for more than three years, that means you have gained some serious equity.
Hey, I’m Chase Gallimore with in the Shoals Realty. I want to take a look at the numbers with you to show you what I’m talking about.
The National Association of Realtors reports that a single-family home sold for a median price of $269,000 in April of 2019. This year in April, the median price for a single-family home: $397,600.
That is a 47 percent increase.
Now, the numbers look different region by region. But, the bottom line is, homes have increased in value across the nation significantly.
In fact, home prices have had year over year gains for 123 straight months.
Now, some people are trying to spread a narrative that those home prices are set to crash. But, the reality is, we still have an inventory shortage on our hands with more buyers than available homes.
That means we should see prices continue to rise over the next few years, though not quite as dramatically as the past three.