According to Patch, “National home prices broke another record. Yearly growth record as buyer demand remained strong and housing supply stayed tight.
Prices increased 1.2 percent from June to July in the Omaha-Council Bluffs NE-IA Metropolitan Statistical Area, according to the latest data from the S&P CoreLogic Case-Shiller Index, one of the leading trackers of the housing market. In addition, prices were up 14.7 percent in July 2021 over July 2020.
Prices in the bottom third of the local market — homes priced under $219,000, often designated as starter homes — increased 16.5 percent year over year. The top third of the market (homes over $323,000) saw a 14.4 percent increase.
Nationally, home prices increased 1.3 percent from July to August 2021, according to CoreLogic data. However, price growth was slower than in June to July 2021, when prices rose 1.8 percent nationally.
Year over year, prices increased 18.1 percent from August 2020 to August 2021, the highest increase in 45 years. Prices for single-family homes grew by 19.8 percent over the past year; attached properties such as condominiums grew by 12 percent.
Phase Two of a typical US housing bubble has begun. Sellers note that prices are now above what they could have gotten in the last bubble. With the memory of how badly they wished they’d sold at the peak fresh in their minds, homeowners realize that they have a second chance to cash out, move to a cheaper, less-frenetic place, and coast on their real estate riches. So they call a realtor and list their house, as do a bunch of their neighbors. Supply, out of the blue, jumps.
Now, if you are preparing to sell, do an inventory of your house. Do you see problems in your home that need fixing? You can fix some things with a bit of paint. What if you require a new roof, new siding, new gutters, upgraded heating system, or you are living in a house that needs a new kitchen, but you have no money for any of those fixes.
We are here to help homeowners out of any distressed situation. There are no fees, upfront costs, commissions, or anything else. Instead, we offer the simple truth about your home and how we can help you sell it fast.
Give us a ring. We would love to help you understand the process and to answer all of your questions. You can reach us at 402 999.0577.