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Have You Outgrown Your Starter Home?

Posted by David E. DeChant on Tuesday, August 14th, 2018 at 8:59am.

For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment.

It may seem hard to imagine that the first home you purchased (which made your dreams come true) might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit that your home no longer fits your needs!

According to CoreLogic’s latest Home Price Index, prices in the starter home market have appreciated faster than any other category over the last year, at 9.4%. At the same time, inventory in this category has dropped 14.2%.

These two stats are directly related to one another. As inventory has decreased and demand has increased, prices have been driven up.

This is great news if you own a starter home and are looking to move up to a larger home as the equity in your home has risen as prices have gone up. Even better is the fact that there is a large pool of buyers out there searching for your starter home to help them achieve their American Dream!

Bottom Line

If you have outgrown your starter home, contact a local real estate professional who can explain the market conditions in your area and help you find your next home!

 

 

Source: https://www.keepingcurrentmatters.com/2018/08/14/have-you-outgrown-your-starter-home/ 

3 Responses to "Have You Outgrown Your Starter Home?"

Homebuyers Willing To Sacrifice ‘Must-Haves’ In Favor Of Good School Districts wrote: [...]Links

Have You Outgrown Your Starter Home?
Are You Thinking Of Selling Your Home? Competition Is Coming!
Existing[...]

Posted on Wednesday, August 15th, 2018 at 9:56am.

Housing Market: Another Gigantic Difference Between 2008 And 2018 wrote: [...] Homebuyers Willing To Sacrifice ‘Must-Haves’ In Favor Of Good School Districts
Have You Outgrown Your Starter Home?
Are You Thinking Of Selling Your Home? Competition Is Coming!




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Posted on Thursday, August 16th, 2018 at 2:38pm.

The Cost Of Waiting: Interest Rates Edition [INFOGRAPHIC] wrote: [...] Homebuyers Willing To Sacrifice ‘Must-Haves’ In Favor Of Good School Districts
Have You Outgrown Your Starter Home?




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First Time Home Buyers (102)
For Buyers (133)
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Posted on Monday, August 20th, 2018 at 9:31am.

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