In a recent release from Buffini & Company, Home Prices Have Increased 971% since 1967. WOW!!! That’s HUGE! One thing if for sure, over time, owning real estate will increase your wealth.
I often create a chart that shows how home prices have increased over the years. This chart shows the peaks and valleys of home prices over the last 100 years and for every cycle (upswing/downswing), the next cyclical upward trend surpasses the previous highs of home sale prices. Yes, there are times that the real estate market goes down but, like I mentioned, over time, home values increase and, in my opinion, home prices will continue to rise for the foreseeable future…. Because, for now, we are still in a sellers’ market and this won’t change until the home builders catch up with the demand…And, most builders do not want to build too fast because if they do, home prices may fall and the home builders might get stuck with housing inventory they can’t sell….. and really, nobody wants that. This is definitely a balancing act…. Build enough homes to meet demand without overbuilding.
Crazy News:
A statewide survey by the California Association of Realtors revealed that the median home price in California is now over $900,000.00.
- Fun Facts for July:
1, About 150 million hotdogs will be eaten by Americans on the 4th of July. 2, America will celebrate its 248th birthday this year. 3, The full moon will be on July 21st according to the Old Farmers Almanac. 4, July Birthstone is the Ruby and the July Birth Flowers are the Larkspur and Water Lily.
Please call me or the office if you (or anyone you know) are thinking about buying or selling real estate, it will be our honor and pleasure to help them get what they’re looking for.
