Home prices increase—it’s the trend that’s not going away but here’s a new fun fact: home prices rose more in the first two months of this year than the start of any year since 2005—13 years! However, while 60 percent of all U.S. metros saw an increase in the rate of prices through the start of 2018, there are some showing a degree of deceleration. Remember, this is rate. It’s all about location and demand. San Jose, CA saw the largest home price growth, rising 24 percent over the last year. Eleven metro markets saw gains of at least 10 percent. Ninety-seven percent of the top 100 markets showed annual increases in home price appreciation.
The American middle class is shrinking and it looks to be changing housing—why we’re seeing such a demand for homes in the lower end and the higher end of the market, along with such a strong rental demand.
Redfin knows when to list a house, apparently. According to a recent study, homes that were listed on a Wednesday sold for an average of $2,023 more than homes listed on a Sunday, the worst day of the week to list. Why? They couldn’t explain that. However, we have a couple theories correlating when homebuyers typically house hunt or schedule showings. Wednesday, Thursday, Friday were the three best days to list and in that order. We might also mention homes listed on Thursday also tended to find buyers five days faster than homes listed on Sunday. Still, our recommendation: your realtor knows best.