According to a recent report from the National Association of Realtors (NAR), home values are at an all-time high in nearly two-thirds of the market across the United States. Single-family home prices increased in an astonishing 92% of markets, with 15% of metro areas seeing an increase of 10% or more.
While these price increases are clearly bad news for buyers, they’re excellent news for sellers—especially sellers who struggled with negative equity after the recession.
According to a recent CoreLogic report, Evaluating The Housing Market Since The Great Recession, the average house price is now 1% higher than it was at the peak of the real estate market in 2006, which means even homeowners who purchased at the peak of the pre-recession bubble have recovered their home value.
What does this mean for you? It means that if you’ve been thinking about selling your home, now is the time to do it. With home values at an all-time high and low inventory ramping up competition among buyers, there’s never been a better market to get the most value for your home.