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You are here: Home / Blog / Market Trends

Sellers have an opportunity with today’s home prices

May 24, 2022

Sellers Have an Opportunity with Today’s Home Prices

As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend.

According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green:

This is largely due to an ongoing imbalance in supply and demand. Specifically, housing supply is still low, and demand is high. As mortgage rates started to rise this year, many homebuyers rushed to make their purchases before those rates could climb higher. The increased competition drove home prices up even more. Selma Hepp, Deputy Chief Economist at CoreLogic, explains:

“Home price growth continued to gain speed in early spring, as eager buyers tried to get in front of the mortgage rate surge.”

And experts say prices are forecast to continue appreciating, just at a more moderate pace moving forward. According to a recent article in Fortune:

“. . . the swift move up in mortgage rates . . . doesn’t mean home prices are about to crash. In fact, every major real estate firm with a publicly released forecast model . . . still predicts home prices will climb further this year.”

What This Means for You

If you’re thinking about selling your house, you should know you have a great opportunity to list your home and capitalize on today’s home price appreciation. As prices rise, so does the value of your home, which gives your equity a big boost.

When you sell, you can use that equity toward the purchase of your next home. And at today’s record-level of appreciation, that equity may be enough to cover some (if not all) of your down payment.

Bottom Line

History shows rising mortgage rates have not had a negative impact on home prices. Now is still a great time to sell your house thanks to ongoing price appreciation. When you’re ready to find out how much equity you have in your current home and what’s happening with home prices in your local area, let’s connect.

Filed Under: Market Trends Tagged With: Appreciation, Home Prices, Supply & Demand

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"Russ is the best agent on the planet, bar none! He came highly recommended to me and I suggest everyone should work with this stellar man. Russ is a fantastic negotiator. I don’t think another agent would have been able to seal this deal as well as Russ. He knows when to back off and when to apply pressure. Russ is always a gentleman and treats everyone with respect. He has a good sense of humor and although a bit dry, he really makes you chuckle when the chips are down. I came to Green Valley hoping to have an accepted offer on a house in one week. Russ did it! And, my house is very special. Plus I was on a tight budget. Russ has the patience of a saint and will answer a dumb question 4 times over if need be. His knowledge of local contractors and laws specific to your purchase is more than helpful. Russ has a great knowledge of the area in general and he works to find you just what it is you are looking for. Russ listens. Rare quality in a man, hu? And, he’s a dog lover! "
- R.H., Green Valley AZ
"He is very personable, knowledgeable and reliable. Anytime we had a question or concern, he was right there with the answer. Our buyers were from out of state and had only 1 week to see the house and schedule all inspections. It could have been very stressful for us, but Russ took care of everything in professional and timely manner."
- S.S., Green Valley AZ
"Russ Fortuno is a 5-Star professional who I highly recommend without reservation. He is knowledgeable, experienced, prompt, efficient, polite, fair, honest, and very personable. We interviewed four real estate agents and he was far and above the most experienced, proficient, and knowledgeable. He gave us excellent advice on how to prepare the house for the market, and directed us on having an estate sale. He sold our house in Green Valley, AZ before it even went on the market, and did an excellent job negotiating a fair price. Our entire family was thrilled with the service he provided to us. You cannot go wrong with Russ Fortuno."
- N. T., Highland Park, IL
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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and year-round Green Valley resident. Whether you’re buying or selling a home in the Green Valley or Sahuarita area, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

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