Home Values Nearing All-Time Peak
Home values continue to move higher nationwide.
According to the FHFA Home Price Index, property values rose nationwide in April, marking the 17th straight month of home price growth; and thirty-eighth out of 39. Home values are up 5.3% percent since 12 months ago.
Demand for homes is outweighing supply in many U.S. markets; and, today’s mortgage rates are so low that they’ve changed the economics of “Buy vs Rent” for many U.S. households.
Freddie Mac has reported the average 30-year mortgage rate at 4.00%. Buyer purchasing power is on the rise and low- and no-downpayment mortgages remain readily available.
It’s an excellent time to be a U.S. home buyer.