How much more will my Main Line home appreciate? Are you thinking about selling, but wondering if your Main Line home will appreciate more in the next year, or the next six months? Hi, I’m Kimmy Rolph and I represent Main Line PA sellers and get this question a lot right now. It is true that home values have skyrocketed in the past year, in some areas well over 20%, and most experts agree that homes will continue to appreciate in 2022, but how much should that impact your decision to sell? And will your home value actually depreciate if you do not sell? Let’s examine some of the recent information on home appreciation.
Recently, Pulsenomics released their Home Price Expectation Survey – which polls a panel of over 100 economists, real estate experts, and investment and market strategists and forecasts home prices over the next five years. Based on the average of all 100+ projections the anticipated appreciation for 2022 is 9%, in 2023, 4.74%, in 2024 3.67%, in 2025, 3.41%, and in 2026 3.57%. So while it home appreciation will be above average in 2022, at 9%, the following years will be around normal, showing no signs of depreciation.
This creates a climate in which a buyer stands to gain home equity by investing in real estate, while mortgage rates are still below 5%, and also for sellers since buyers have incentives to buy while the rates are going up. We have such limited inventory on The Main Line right now, that our buyers are acting fast to secure homes, often with cash offers and terms favorable to sellers, and my sellers are getting above ask and benefitting from the market conditions. As I continue to report the latest news and reports, I encourage you to reach out to me to explore strategies that build wealth and equity in real estate on The Main Line. I represent both buyers and sellers and am an expert in Main Line real estate. Kimmy Rolph Sells The Main Line and local areas.
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