Home prices in the U.S. aren’t just rising, they’re now accelerating for the first time in over a year. The U.S. saw faster growth in April than it did in March, halting the recent slow down in growth. This is according to CoreLogic, a leading data analytics firm that has created their own home price index.
CoreLogic is expecting this pattern to continue and is expecting a 4.7% rise in the next 12 months, which would make this coming year a great time for sellers who are looking to make the most of their assets. This is especially true if sellers want to liquidate in order to reinvest once prices go down again.
In addition, mortgage rates are down .6 percent compared to a year ago, and income is rising as well, which makes affordability strong. of people spent more than expected on their home, and just under put down a higher down payment than expected.
The buyers are there and the data shows they’re willing to shell out the money for the right property. The question is, how long will this opportunity last?