PRICES ROSE EVERYWHERE
99% of metro areas saw home prices increase in the first quarter of the year, according to the National Association of Realtors. Though some cities saw year-over-year jumps as high as 35%, even smaller places saw at least modest rises. Experts credit record-low supply and strong demand for the broad increases.
APPRAISED VALUE VS SALES PRICE
Home prices are surging as high as they've ever been, which can mean a significant gap between the sale price and the appraised value. Rushed appraisers can't always keep up with new data that conflicts with even recent history. One option is a Reconsideration of Value request, which lets an unsatisfied buyer submit newer comparables for the appraiser to consider
BUYERS EXPECT PRICES TO RISE FURTHER
71% of Americans expect home prices to grow even more this year, according to a recent survey by Gallup. That figure stood at only 40% a year ago, and since then, housing prices have risen to record levels. Despite the pricey and hyper-competitive market, 53% still consider this a good time to buy.
BUYERS EXPECT PRICES TO RISE FURTHER
71% of Americans expect home prices to grow even more this year, according to a recent survey by Gallup. That figure stood at only 40% a year ago, and since then, housing prices have risen to record levels. Despite the pricey and hyper-competitive market, 53% still consider this a good time to buy.
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