{"id":8282,"date":"2024-03-13T10:30:00","date_gmt":"2024-03-13T10:30:00","guid":{"rendered":"https:\/\/thezakariagroup.com\/your-home-is-a-powerful-investment\/"},"modified":"2024-03-13T10:30:00","modified_gmt":"2024-03-13T10:30:00","slug":"your-home-is-a-powerful-investment","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/your-home-is-a-powerful-investment\/","title":{"rendered":"Your Home Is a Powerful Investment"},"content":{"rendered":"
\"Your<\/p>\n

Going into 2023, there was a lot of talk about a possible recession<\/a> that would cause the housing market to crash. Some in the media were even forecasting home prices would drop by as much as 10-20%\u2014and that might have made you feel a bit unsure about buying a home<\/a>.<\/p>\n

But here\u2019s what actually happened: home prices<\/a> went up more than usual. Brian D. Luke, Head of Commodities at S&P Dow Jones Indices<\/em>, explains<\/a>:<\/p>\n

\u201cLooking back at the year, 2023 appears to have exceeded average annual home price gains over the past 35 years.\u201d<\/em><\/p><\/blockquote>\n

To put last year\u2019s growth into context, the graph below uses data<\/a> from Freddie Mac<\/em> on how home prices have changed each year going back to 1980. The dotted line shows the long-term average for appreciation:<\/p>\n

\u00a0\"a<\/a><\/p>\n

<\/p>\n

The big takeaway?<\/strong> Home prices almost always go up. <\/strong><\/h4>\n

As an article from Forbes<\/em> says<\/a>:<\/p>\n

\u201c. . . the U.S. real estate market has a long and reliable history of increasing in value over time.\u201d<\/em><\/p><\/blockquote>\n

In fact, since 1980, the only time home prices dropped was during the housing market crash (shown in red in the graph above<\/em>). Fortunately, the market today<\/a> isn\u2019t like it was in 2008. For starters, there aren\u2019t enough available homes to meet buyer demand right now. On top of that, homeowners have a tremendous amount of equity<\/a>, so they\u2019re on much stronger footing than they were back then. That means there won\u2019t be a wave of foreclosures<\/a> that causes prices to fall.<\/p>\n

The fact that home values went up every single year except those four in red is why owning a home can be one of the smartest moves you can make. When you\u2019re a homeowner, you own something that typically becomes more valuable over time. And as your home\u2019s value appreciates, your net worth grows<\/a>.\u00a0<\/p>\n

So, if you\u2019re financially stable and prepared for the costs and expenses of homeownership, buying a home might make a lot of sense for you.<\/p>\n

Bottom Line<\/h3>\n

Home prices almost always go up over time. That makes buying a home<\/a> a smart move, if you\u2019re ready and able. Connect with a local real estate agent<\/a> to talk about your goals and what\u2019s available in our area.<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Going into 2023, there was a lot of talk about a possible recession that would cause the housing market to crash. Some in the media were even forecasting home prices would drop by as much as 10-20%\u2014and that might have made you feel a bit unsure about buying a home. 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