Increasing Home Prices
Unless you are one of the few people who vigilantly follows the housing market, you may be unaware of what has been going on the last few months. Perhaps you have heard that the housing market is volatile. While there is truth in that, there are some factors that make the market more predictable than some might think. Below, we will discuss the latest trends in home prices in Twin Falls and across the entire US.
For the last several months, home prices across all regions of the United States have rapidly increased. In fact, the median price of a home rose by a whopping 16% just in one quarter. If you want to put that to a dollar amount, that is a $50,300 increase.
Yes, home prices in Twin Falls and all over the US have increased quickly and dramatically. It is important to note, however, that the rate of increase has slowed down slightly in the last quarter. It is even predicted that as more homes in metros enter the market at the start of this year, the rate of increase should decrease even further. Now, what does this actually mean? Well, it depends if you are a buyer or a seller.
If you are a seller, this is great news! You will likely sell your home for substantially more than you paid. If you are a buyer, the story is a little bit different. The increase in houses and metros across the country means homes are both more expensive and more competitive. However, do you not worry! We are here to help.
At Gateway, we understand the ins, the outs, and the intricacies of the market. Our real estate agents in Twin Falls pay careful attention to market trends and assist in all parts of the buying and selling cycles. This included bids, negotiations, and more. Whether you are a buyer or a seller in Twin Falls, our agents are here to help you maximize your dollars and minimize your stress.