According to Pulsenomics' latest Home Price Expectation Survey, home prices will appreciate 3.5% per year on average and cumulatively by about 18% over the next five years. This is good news for homeowners and their equity positions. For example, if you purchased a Greenwood home in January of this year at $250,000, the equity you would earn over the next five years as home prices increase can be seen below.
Since it is predicted that home prices will increase 4.5% this year alone, you would have gained over $11,000 in equity in just one year. In five years, your equity would have grown by over $46,000! Homeownership is a great investment and offers you and your family the ability to build equity you can borrow against in the future. If you are considering purchasing your dream home in Greenwood, don't hesitate to visit our website or contact us at (864) 341-7774 or lakegreenwoodproperty@gmail.com for more information on the current Greenwood Real Estate Market.
