As a seller, you will be most concerned about ‘short term price’
– where home values are headed over the next six months. As either a
first-time or repeat buyer, you must not be concerned only about price
but also about the
‘long term cost’ of the home.
Let us explain.
There are many factors that influence the ‘cost’ of a home. Two of
the major ones are the home’s appreciation over time, and the interest
rate at which a buyer can borrow the funds necessary to purchase their
home. The rate at which these two factors can change is often referred
“The Cost of Waiting”.
What will happen over the next 12 months?
According to CoreLogic’s latest Home Price Index, prices are expected to rise by 5.5% by this time next year.