Hello! Quick post today.
Check out this infographic from Keeping Current Matters. It shows the average annual appreciation of homes from 1987 until now – as reported in the most recent Home Price Expectation Survey by Pulsenomics. (Click on the image to enlarge it.)
From 1987 – 1999, homes saw an average annual appreciation of 3.6%. From January 2000 – April 2007, average annual appreciation was at 7%. (That was the crazy time before the bubble burst.) Then when the housing market fell apart, we saw a depreciation of 5.2% from May 2007 – January 2012. Finally, as we began the slog to recovery, we saw an average annual appreciation of 5.2% from January 2012 until today.
1978 – 1999 = +3.6%
Jan 2000 – Apr 2007 = +7%
May 2007 – Jan 2012 = -5.2%
Jan 2012 – Today = +5.2%
If you look at the numbers, you will see that we indeed have come out of the housing crisis. While there are still people who are underwater and homes that are in foreclosure or short sale, for the most part, we have weathered the turbulent storm that affected our economy and so many people’s livelihoods. Hopefully we will continue on this healthy path as more people test the waters and try to sell or buy a home.
Have a great weekend!