What are experts forecasting for home price appreciation over the next several years? 🤷🏾‍♀️

🏠 Home prices have increased significantly over the last year, which has in turn grown the net worth of homeowners. Appreciation and home equity are directly linked – as the value of a home increases, so does a homeowner’s equity.

💵 In more good news for homeowners, the most recent Home Price Expectations Survey – a survey of a national panel economists, real estate experts, and investment and market strategists – forecasts home prices will continue appreciating over the next five years, adding to the record amount of equity homeowners have already gained over the past year.

🚦Home prices are climbing today, and the data in the survey indicates they’ll continue to increase, but at rates which approach a more normal pace.

🏰 This also presents today’s homeowners who are not yet in their dream house with a unique opportunity: using their growing equity for a home upgrade. With so few homes available to purchase and strong buyer demand, there may not be a better time to sell your current house and move into one that better meets your needs.

📱If you’re a current homeowner who’s ready to take advantage of your built-up equity, don’t hesitate to reach out to discuss your options.