Accept

We use cookies in order to save your preferences so we can provide a feature-rich, personalized website experience. We also use functionality from third-party vendors who may add additional cookies of their own (e.g. Analytics, Maps, Chat, etc). Read more about cookies in our Privacy Policy and Terms of Service. If you do not accept our use of Cookies, please do not use the website.

Header Image

Have You Outgrown Your Starter Home?

August 20 2018
August 20 2018

For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment.

It may seem hard to imagine that the first home you purchased (which made your dreams come true) might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit that your home no longer fits your needs!

According to CoreLogic’s latest Home Price Index, prices in the starter home market have appreciated faster than any other category over the last year, at 9.4%. At the same time, inventory in this category has dropped 14.2%.

Have You Outgrown Your Starter Home? | MyKCM

These two stats are directly related to one another. As inventory has decreased and demand has increased, prices have been driven up.

This is great news if you own a starter home and are looking to move up to a larger home as the equity in your home has risen as prices have gone up. Even better is the fact that there is a large pool of buyers out there searching for your starter home to help them achieve their American Dream!

BOTTOM LINE

If you have outgrown your starter home, contact a local real estate professional who can explain the market conditions in your area and help you find your next home!


Comments:

Leave a Comment

Name*
Email Help Tip
Website
Comment*
Characters Remaining: 5000
   

Comments

Bella Fadden

November 26, 2018 8:44 PM

People get very nuch happy when they are going to buy their own home for the first time in their life. It's all about that and the ivory research service is people's most favorite resource for writing a cool range of essays. This information is really very useful and impressive and I like everything about it.