CoreLogic’s Home Price Index (HPI) Report revealed,
“National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.”
They also analyzed four individual home-price tiers, showing the increase in each.
Here’s the breakdown:
To clarify the methodology, CoreLogic explains,
“The four price tiers are based on the median sale price and are as follows: homes priced at 75% or less of the median (low price), homes priced between 75% and 100% of the median (low-to-middle price), homes priced between 100% and 125% of the median (middle-to-moderate price) and homes priced greater than 125% of the median (high price).”
What does this mean if you’re selling?
Price appreciation can differ depending on your price range. If you’re a homeowner thinking of selling, connect with us to find out how much your home is increasing in value, so you can price it competitively for today’s market. In Middle TN the home prices comparing August 2019 to August 2018 shows average closed prices being 5.6% higher this year. We offer a FREE home valuation. If you would like to know the value of your home, simply shoot us over a message or give us a call.
Jason & Allison Fraker
Red Realty, LLC
615-456-8016 Jason
615-533-5622 Allison
615-896-2RED Red Realty office