How Have Home Prices Changed in 30 Years?

How Have Home Prices Changed in 30 Years? (Source: Wikimedia Commons)

30 years is a long time in the housing market.

Taking a look back can be an insightful way to predict where our market could take us in another 30 years.

As you may expect, we have seen a significant increase in home prices between then and now. The average annual appreciation between 1987-1999 was +3.6%. The housing growth in this period was slight, but steady. Between January 2000-April 2007, the growth spiked to +7%. May 2007-Jan 2012, years that encompass the Great Recession, dropped home prices -5.2%.

And where are we at today? Between Feb 2012 and today, 3 years alone, home prices have grown +5.8%. These numbers bode well for home sellers and for the general market alike.

The time to get active is now. There is good evidence to support that we are in a great market for sellers right now, though the market is gradually shifting to a buyer's market. If you are looking to sell your home, taking advantage of the current conditions could bode well for you.

Questions? Need help? Don't hesitate to send us an email or give us a call!

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