Home price growth hit an all-time high in March: This is how homeowners can cash in!
Home prices surged 20.6% annually in March, according to the latest S&P CoreLogic Case-Shiller Index, and marked the strongest annual gain in the history of the report. The bump was an increase from the 20% annual gain seen in February, and prices jumped 2.1% from February to March on a monthly basis.
"Those of us who have been anticipating a deceleration in the growth rate of U.S. home prices will have to wait at least a month longer," S&P Dow Jones Indices Managing Director Craig Lazzara said. "For both National and 20-City Composites, March's reading was the highest year-over-year price change in more than 35 years of data, with the 10-City growth rate at the 99th percentile of its own history."
If you're seeing rapid gains in your home's value, consider utilizing a cash-out refinance — doing so can allow you to take advantage of the equity you’ve built in your home and keep the difference between loan amounts.
If you are interested in entering today’s housing market, Contact Gayla Gayden @ 281.704.3673 to help find a mortgage lender for your next home purchase and help you and choose the one with the best rate for you.
