Last week, we talked about the hidden investment, otherwise known as your home. On average, last year in the US, statistics showed a home value rise of 4%; in some markets, it was as high as 10%. However, last year’s trend was not matched in July 2015 (in some of the hottest markets). While the numbers are not anything for homeowners to worry about (as evidenced by the small percentage drop), they could provide some added incentive for homebuyers to act now.
Some homebuyers may currently be holding out in hopes of a home value drop, and while it’s not certain if that will ever come – especially given the rising trend after the 2011 crash – this small dip could be enough to get some of the buying holdouts out of their rental and into a home.
If you’re interested in taking the first step to becoming a homeowner, check out our First Time Homebuyer’s Guide. It has everything you need to know about buying your first home in a fun and easy format.
Source: Zillow