Check out the National Home Appreciation Report by CoreLogic, which shows the Top 5 states with the best & worst states with home appreciation values.
HOME PRICE APPRECIATION VARIES FROM STATE TO STATE
National home prices increased 8.2% from November 2019 to November of 2020.
National home prices increased 8.2% year over year in November 2020, according to the latest CoreLogic Home Price Index (HPI®) Report. The November 2020 HPI gain was up from the November 2019 gain of 3.7% and was the highest year-over-year gain since March 2014. Meanwhile, the availability of for-sale homes has dwindled as demand increased and LOW INVENTORY persists due to coronavirus (COVID-19) outbreaks continuing across the country, which has delayed some sellers from putting their homes on the market.
Here are the top 5 states in both categories with the highest and lowest HOME PRICE APPRECIATION (HPI) through November of 2020.
While Nevada didn't make the cut this year, you can check out the most recent Las Vegas Real Estate Market Values here.
Source: CoreLogic Insights
All states showed annual home price appreciation increases in HPI in November of 2020, and Idaho led the states in appreciation with annual appreciation of 15.7%. At the low end, North Dakota saw an increase in home prices of 3.8%.
The 2020 National Migration Study conducted by United Van Lines, the nation's largest household mover, ranked Idaho as the top Moving Destination of 2020. Last year, more residents moved to Idaho than moved out of Idaho, with 70% of moves being inbound and mostly due to the cost of living compared to any other state.
For retirement, Montana and Delaware experienced more inbound moves than any other state at 41%, followed by Florida (39%) and South Carolina (38.5%). Minnesota led the list of states people moved to for family (41%), and Wyoming was the top state for a lifestyle change with an inbound percentage upwards of 29. More people migrated to Nebraska (72%) for a new job or job transfer than any other state, and more people moved to Idaho (11%) due to the cost of living than any other state.
The migration study also showed the list of the top states people are moving into and out of during 2020.
- South Carolina
- South Dakota
- North Carolina
- New Jersey
- New York
- North Dakota
Home Appreciation has been a hot topic for many homeowners, even when not thinking of selling in todays market. Home Appreciation and equity matter and it's a good idea to keep tract of your values, not only on a local level, but also scaling up and seeing how you compare nationally.
Many homeowners want to know, how much has my home appreciated since I bought it. More and more people, Buyers and Sellers alike are becoming savvy to home values and market trends. As more data is available, Buyers and Sellers often turn to the internet first to be well versed on current conditions and factors.
LOOKING TO SELL?
For sellers, what a great time to sell! Inventory is low and motivated buyers are looking for houses for sale. Sellers don't have competition with as many property owners. Some would be sellers have decided to wait out the pandemic, but more and more buyers enter the market. This only further pushes the pricing point higher due to tight supply. Check your home's value here! or CONTACT ME HERE FOR MORE INFORMATION!
LOOKING TO BUY?
For buyers, the inventory is slowly increasing and mortgage rates are at historic all-time lows, record-breaking never seen before lows. Buyers are out in force taking full advantage of their higher than usual purchasing power. It is a win-win scenario for both sellers and buyers. CONTACT ME HERE to get started!
2020 National Migration Study: United Van Lines
CoreLogic Insights: HPI, Home Prices Surge