When you purchase a home, you want it to appreciate in value. That way, if and when you decide to sell your home, you can fetch more than what you paid for it (and make a handsome profit in the process).
Well, if you purchased your home anytime in the last seven years or so, chances are you’re probably doing just fine.
According to recent data from Zillow, the median existing home sale price was $257,000 in November 2018. That’s a rise of 4.2% from November the previous year—and marks a whopping 81 months straight of year-over-year gains.
If you’ve owned your home for at least a few years, chances are it’s appreciated in value so you’ll be able to sell it for a higher value than what you paid. But these steady increases won’t last forever. As new inventory hits the market in 2019, increases in home values are expected to level off. So if you’ve been thinking about selling your home, now is the time to make a move (and make the most profit).