Time to cash out?

With home price appreciation in the double digits the last two years, it is safe to assume you have equity in your home. Time to cash out?

No matter the industry, anytime there’s more demand than supply, prices naturally rise. That’s exactly what’s happening in today’s real estate market. Buyers are competing with one another to purchase a home, leading to bidding wars that drive prices up. For sellers, the rising prices mean that opportunity is knocking.

The national average home price appreciation rate is between 3-5% in a typical year. Locally we saw 10% in 2020 and as of this article Q3 2021 appreciation is sitting at 20%. Today, home prices are appreciating well beyond the norm thanks to high demand. For sellers, this means that with the current rise in prices, your house may be worth more than you realize.

You can use your built-up equity to power a move into your dream home, or you can put it toward life-changing goals. But don’t wait. While price appreciation is strong now, those same experts say it’ll start to appreciate at a more normalized pace next year.

If you list your house sooner rather than later, you’ll be in a better position to capitalize on the higher-than-average home price appreciation we’re seeing today.