Good news for home owners and buyers alike – home appreciation remains strong.
Interest have moved to historic lows due to multiple factors, including the virus scare.
The Federal Reserve has cut it’s funds rate by .50 basis points in an attempt to “provide a meaningful boost to the economy”, per Chairman Jerome Powell.
With these things in mind, make sure you have a solid game plan to navigate the market right now. Think about inventory, equity in your home, second homes, and investment properties as strategies to build wealth.
It’s also a good time to take a look at refinancing any properties you own, as rates have dropped significantly over the last 2 years.
The housing reporting benchmark, CoreLogic, reported that home prices rose 0.1% in January and 4.0% year over year.
The year-over-year reading remained stable from last month’s report. CoreLogic forecasts that home prices will appreciate by 5.4% in the year going forward, which slightly higher pace. from the 5.2% forecasted in the previous report.
This is great news for would be buyers, as they can expect a great return on their investment!
Do reach out to me to find out more, as it would be my pleasure to help you determine the right strategy for today’s environment.