Buying Is Now 33.1% Cheaper Than Renting in the USThe results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a
How Much Has Your Home Appreciated
Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 7.1%. CoreLogic, in their most recent Home Price Insights Report, reveals that national home prices have increased by 6.9% year-over-year.
The CoreLogic report broke down appreciation even further into four different price categories:
Lower Priced Homes: priced at 75% or less of the median
Low-to-Middle Priced Homes: priced between 75-100% of the median
Middle-to-Moderate Priced Homes: priced between 100-125% of the median
High Price Homes: priced greater than 125% of the median
Here is how each category did in 2016:
The lower priced homes (which are more in demand) appreciated at greater rates than the homes at the upper ends of the spectrum.