$\"Do$ \n

Over the past few years, you\u2019ve probably seen a whole lot of headlines about how home prices keep going up. But have you ever stopped to think about what that actually means for your home?<\/p>\n

Home prices have risen dramatically over the past five years \u2014 far more than usual. And if selling has been on your mind, this could mean a bigger-than-expected payday when you list. So, how much has your home\u2019s value really changed? Let\u2019s break it down.<\/p>\n

The Rapid Rise of the Past 5 Years<\/strong><\/h4>\n
Typically, home prices go up by about 2-5% a year. But in 2021-2022, there were double-digit increases. And at the peak, prices rose by a staggering 20%<\/a> or more nationally.\u00a0Why? There were way more buyers than homes available, which sent prices soaring. While things have normalized since then, you still get to reap the benefits of those massive increases.<\/p>\n
Your house has gained way more value than it normally would in such a short period of time \u2013 and that means a lot more wealth for you, too. <\/strong><\/p>\n
The map below uses data<\/a> from the Federal Housing Finance Agency<\/em> (FHFA) to show that, nationally, prices have gone up by nearly 60%<\/strong> in just the past 5 years alone. Here\u2019s a breakdown that takes that one step further and gives you the numbers by state:<\/p>\n
$\"a$ <\/a>If you\u2019ve been holding off on selling because you were worried about buying your next home at today\u2019s rates and prices, let that sink in. It may be more than enough to help close the affordability gap and get you into your next house.<\/p>\n
And what if you\u2019ve been there for longer? That means your home\u2019s value is probably even higher now. You get to stack the abnormal gains of the past 5 years on top of five years of more normal appreciation too. And an agent can help you figure out what that really looks like.<\/p>\n
How To Find Out What Your House Is Really Worth<\/strong><\/h4>\n
While a percentage is great, you probably want more specific numbers. The only way to get an accurate look at what your house is really worth is to talk to a local real estate agent. <\/strong><\/p>\n
While the map above gives you the average appreciation rate by state, it doesn\u2019t take your local market into consideration. Like, is inventory still low where you live? That may drive prices higher, and faster. Or maybe you\u2019ve done renovation that\u2019ll add even more value to your house. Those are insights you\u2019ll need an agent to provide.<\/p>\n
An agent will know what\u2019s happening where you live and can stack that up against the data and the condition of your home to give you the best estimate of its value possible. Only they have the data and expertise to find out your real number today.<\/p>\n
Bottom Line<\/h3>\n
Home values have climbed \u2014 maybe more than you expected. Are you curious about what your house is worth in today\u2019s market?<\/strong> Connect with an agent so you can find out.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
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