Recent data from Cotality (formerly known as CoreLogic) shows home prices edged up 0.1% from May to June and increased 1.7% year-over-year. ICE also reported similar trends, with a 1.3% annual price gain in early June.
What’s the bottom line? While home price growth has moderated compared to recent years, industry experts remain confident in the market. Cotality is projecting a 0.5% rise in prices for July and anticipates a healthy 4.2% increase over the next 12 months.
This continued appreciation underscores why real estate is still one of the most reliable ways to build long-term wealth. For example, a $500,000 home appreciating at 4% would gain $20,000 in just one year – highlighting the strong return potential of home ownership.
We are currently in a buyers market with over 31,000 homes for sale in the Dallas/Ft Worth area right now! With that much inventory, sellers are having to lower prices to sell their homes making this the perfect time to purchase a home for the best price.
The mistake people make is “waiting for the rates to come down” which will end up costing more money as home prices rise. There are no guarantees the rates will ever be lower than they are right now. In the 1980’s mortgage rates were above 15% so, getting a rate today at 6.5% is something to take advantage of and if by chance the rates do ever drop below 6%, you can always refinance your loan.
So, if you’re tired of throwing away your money by renting and want to start building wealth with home ownership, contact us for a FREE “Mortgage Ready” Consultation. It’s the first step in the home buying process as we provide a plan for you to reduce your debts and raising your credit scores to get over qualified for a New Home!
For more info, message us here on Facebook, email us at info@EditMyCredit.net or schedule your Consultation here: https://calendly.com/editmycredit/30min and take control of your financial future.
www.EditMyCredit.net is a Consumer Credit Restoration Company based in Dallas TX committed to helping consumers with manage their debt and credit. For 20 years we’ve been working with Mortgage and Real Estate Professionals who endorse our Mortgage based Debt/Credit program for their clients.
