House outline with dollar sign and upward arrow - Strong Real Estate Market, Home Prices up - Bill Salvatore, Realty Excellence East Valley - Arizona Elite Properties 602-999-0952 - Arizona Real Estate

Anticipate a Promising Outlook for Home Sellers in 2017

Anticipate a Promising Outlook for Home Sellers in 2017.

Home prices continued their climb in September, up 6.3 percent year-over-year and 1.1 percent month-to-month, according to CoreLogic®’s recently released Home Price Index (HPI™) and HPI Forecast. The Forecast projected a 5.2 percent price increase from September 2016 to September 2017, generating $1 trillion in homeowner equity.

October and November held steady in spite of restrained buyer activity. So far December is proving to be par for the course – the holiday season is fondly known Realtor’s virtual intermission.

“Home price growth creates wealth for owners with home equity,” says Anand Nallathambi, president and CEO of CoreLogic. “A 5 percent rise in home values over the next year would create another $1 trillion in home equity wealth for homeowners.”

“Home equity wealth has doubled during the last five years to $13 trillion, largely because of the recovery in home prices,” says Frank Nothaft, chief economist for CoreLogic. “Nationwide during the past year, the average gain in housing wealth was about $11,000 per homeowner, but with wide geographic variation.”

The HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

For more information, please visit     Reprinted with permission from RISMedia. ©2016. All rights reserved.

More Resources for Home Sellers and Home Buyers

Our Buyer’s FAQ page has 9 of the most frequently asked questions from Home Buyers, along with 10 additional resources for Home Buyers at the bottom of the page.

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Thinking of Selling your home? First check out our 9 FAQs for Sellers. Then read on, there are 9 additional resources for Home Sellers at the bottom of the page.

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