Home prices have been slowly increasing over the past year. According to the most recent Home Price Index Report from CoreLogic, home prices jumped a steady 3.2 percent from June 2018 to June 2019—and it looks like that trend is going to increase. According to the report, home prices are projected to increase another 5.2 percent by June 2020.
So, what does that look like in actual prices? Let’s say you purchased your house in June 2018 for $300,000. If your home value increased along with national trends, today, your home would be worth $309,600—an increase of $9600. And if your home value increases according to next year’s projections, by June 2020, your home will have a price tag of $325,699—an impressive increase of $16,099.
What does that mean for you? It looks like the rest of 2019 (and into 2020) is going to be a great time to sell your home—so if you’ve been thinking about putting your home on the market, now is the time to make a move.