By Jason Boone
It’s been a busy year for Real Estate as home values have appreciated in almost every market across the United States but the question is how much have home prices increased and how does this affect you?
States with Most Home Appreciation
As of September 2014 the state with the most home appreciation is Nevada since home prices there have increased by close to 15 percent in the last 12 months alone.
The states with the most home appreciation after Nevada are:
California – 11.38%
District of Columbia – 10.74%
North Dakota – 8.68%
Arizona – 8.39%
Where Does Oregon Rank With Home Appreciation?
Oregon currently ranks number 10 on the list of states with the most home price appreciation in the last year since home prices here have increased by close to 7 percent.
Although a 7 percent increase in home prices here in Oregon might not seem like much, we’ve seen bigger increases in metro areas including the Bend / Redmond areas where this areas ranks number 8 on the list of top cities across the United States where home prices have appreciated in the last year since prices here have gone up by close to 20%.
What Does Home Price Appreciation Mean To You?
If you were thinking about buying a home last year, but decided to wait another year to buy your decision to wait to buy a home means you will pay thousands of dollars more over the lifetime of a 30-year mortgage.
Don’t wait another year to hold off on buying a home in Bend or elsewhere in Central Oregon, contact me, Jason Boone, Principal Broker with Duke Warner Realty | Skjersaa Group by emailing me at Jason@sgbend.com or by calling me at (541) 383-1426 to learn more about homes for sale in the area.