Why Homeownership Wins in the Long Run
Before deciding if you’re going to buy a home right now, think about the advantages it can bring you in the long run. If you ask current homeowners, you’d probably have a hard time finding someone who regrets their decision to buy a home. That’s because home values grow with time. Here’s a look at how home price appreciation can really add up over the years. Home Price Growth over Time The map below uses data from the Federal Housing Finance Agency (FHFA) to show home price gains over the last five years. The map is broken out regionally to convey larger market trends.
Percent Change in Home Prices Over 5 Years, Q2 2023
Source: FHFA
You can see home prices grew on average by about 57% nationwide in a five-year period. Different regions vary, but overall, home prices gained solid ground in a short time.
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