Did you know? National home values have risen more than 53% since 2012, according to major housing market indexes that track long-term price changes. In some markets, the jump has been much larger.
Several forces helped push values higher: limited housing inventory, higher building and replacement costs, strong buyer demand in many areas, and years of homeowners staying put instead of listing their homes for sale.
Of course, national numbers only tell part of the story. A home’s value still depends on local demand, condition, upgrades, lot size, layout, timing, and what buyers are comparing it to right now.
That’s why online estimates can sometimes surprise homeowners. A home purchased for $250,000 in 2012 could show a much higher estimated value today, but the most useful number comes from looking at both the data and the real details of the property.
