Are you considering buying a new home? Or maybe you’re just curious about the current state of the housing market. Well, according to recent data from CoreLogic, it looks like house prices have been on the rise.
November 2013: Up 11.8% Year-Over-Year
Back in November 2013, house prices were up a whopping 11.8% year-over-year, according to CoreLogic’s data. That’s a pretty substantial increase! This might have been due to a number of factors, such as a lack of inventory and low interest rates.
December 2014: Up 5.0% Year-Over-Year
Fast forward to December 2014, and house prices were still on the rise, though at a slightly slower pace. According to CoreLogic’s data, house prices were up 5.0% year-over-year. While not quite as dramatic as the previous year’s increase, it still represented steady growth in the housing market.
What Does This Mean for You?
So what does all of this mean for you, the potential home buyer? Well, it means that house prices are currently on the rise. This could make it more difficult to find a home within your budget, as prices continue to climb. However, it also suggests that there is a lot of demand in the housing market, which could be a good sign for the overall economy.
Tips for Buying in a High-Priced Market
If you’re searching for a home in a high-priced market, there are a few things you can do to make the process easier:
- Get pre-approved for a mortgage before you start looking, so you know what you can afford.
- Be willing to compromise on certain features or locations in order to stay within your budget.
- Consider buying a fixer-upper that needs some work, as these homes are often priced lower than move-in ready homes.
- Work with a real estate agent who knows the local market and can help you find properties that fit your needs and budget.
Ideas for Making the Most of Your Home Purchase
Once you’ve found your dream home and successfully purchased it, there are a few things you can do to make the most of your investment:
- Consider making small home improvements, such as painting or landscaping, that can add value to your home over time.
- Make smart investments in energy-efficient appliances and technology, which can save you money on utility bills in the long run.
- Stay on top of regular home maintenance tasks, such as cleaning gutters and changing HVAC filters, in order to keep your home in good shape.
- Take advantage of tax deductions for home-related expenses, such as mortgage interest and property taxes.
How to Stay Informed about the Housing Market
If you’re interested in keeping up with current trends in the housing market, there are a few resources you can turn to:
- Read real estate blogs and websites, like Zillow or Redfin, which often feature articles and data about the housing market.
- Follow national and local real estate news, such as articles in the Wall Street Journal or your local newspaper.
- Work with a real estate agent who can provide you with up-to-date market information and help you make informed decisions.
So there you have it – a summary of recent data from CoreLogic, along with some tips and ideas for navigating the current housing market. Whether you’re actively searching for a new home or just keeping tabs on the market, we hope this information has been helpful.
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