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Dream Home

Thursday, May 17, 2018   /   by Sal Giuliano

Dream Home


Moving Up to Your Dream Home? Don’t Wait!




Moving Up to Your Dream Home? Don’t Wait! | MyKCM



Mortgage interest rates have risen by more than half of a point since the beginning of the year, and many assume that if mortgage rates rise, home values will fall. History, however, has shown this not to be true.


Where are home values today compared to the beginning of the year?


While rates have been rising, so have home values. Here are the most recent monthly price increases reported in the Home Price Insights Report from CoreLogic:



  • January: Prices were up 0.5% over the month before.

  • February: Prices were up 1% over the month before.

  • March: Prices were up 1.4% over the month before.


Not only did prices continue to appreciate, the level of appreciation accelerated over the first quarter. CoreLogic believes that home prices will increase by 5.2% over the next twelve months.


How can prices rise while mortgage rates increase?


Freddie Mac explained in a recent Insight Report:



“In the current housing market, the driving force behind the increase in prices is a low supply of both new and existing homes combined with historically low rates. As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”



Bottom Line


If you are thinking about moving up to your dream home, waiting until later this year and hoping for prices to fall may not be a good strategy.


Elevate Real Estate Brokers
Sal Giuliano
3923 S San Mateo Drive
North Port, FL 34288
941-626-3069
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Kim Hibbs
Account Executive
Kim.Hibbs@hwahomewarranty.com
Cell: 512.987.4884
Customer Service: 888.492.7359
https://www.hwahomewarranty.com/


Betty Kedziora
Loan Officer
Office: 941.538.6123 <941.538.6123>
Mobile: 630.625.2435 <630.625.2435>
Fax: 941.256.2558
Betty.Kedziora@LHFS.com
NMLS #: 408864

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