What A Difference 5 Years Makes In Home Prices
You can't seem to walk down the block without someone talking about our real estate market. And everyone has their own description of the last 5 years. But I like to look at facts and numbers because well, for the most part, they don't lie. CoreLogic recently released their Home Price Index Report . The main indicator used in the report to gauge the health of the housing market was home price appreciation. CoreLogic measured home appreciation from July 2013 to July 2018 to show how prices of the last 5 years have fared. The graph below shows the 5 year change in price from 2013 to 2018. As the graph shows, the highest price appreciation occurred in the lowest home price range with a whopping 48%, while the highest home price appreciated by a more modest 25%. This has been greatly fueled by the lack of inventory of homes available at the lower price ranges and high demand from first-time buyers looking to enter the market. Where were prices expected to go? E