In the past year, one of the biggest themes was how well the residential real estate market did. Home price appreciation is one crucial statistic that has received a lot of attention recently. Home prices are rising this year, according to the most recent indexes. The following are the most recent percentages indicating the yearly rise in home price appreciation: The House Price Index (HPI) from the Federal Housing Finance Agency (FHFA): 18.8% The S. National Home Price Index from S&P Case-Shiller: 18.6% The Home Price Insights Report from CoreLogic: 18% The significant price hikes may be found at every price point and in every area of the country. Increases are occurring at all price points According to CoreLogic's latest Home Price Index, every price category has increased by at least 19% in a yearly stand point: There are increases in every region of the country According to the Federal Housing Finance Agency, property prices have increased by at least 14.9% in every region of the country (FHFA):     What Will Happen to the Prices in 2022? The equilibrium between supply and demand determines prices. Over the previous 18 months, demand for single-family houses has been high. The number of residences for sale was at or near historic lows. On the supply side, though, there is some positive news. According to Realtor.com: “432,000 new listings hit the national housing market in August, an increase of 18,000 over last year.” In 2022, however, there will still be a supply shortfall relative to demand. According to CoreLogic, “Given the widespread demand and considering the number of standalone homes built during the past decade, the single-family market is estimated to be undersupplied by 4.35 million units by 2022.” However, most predictions predict that home price growth would slow in 2022. According to the Home Price Expectation Survey, which polled over 100 economists, financial strategists, and housing industry specialists, next year's appreciation will be 5.12%. If you've owned a property in the last year, you've experienced a significant increase in your household wealth, which will continue in 2022. If you're considering about purchasing, do it immediately because prices are expected to rise for at least another year. You may check the value of your home by visiting our website at https://www.lancianopizante.com/evaluation  

Things you should know before buying a house. Are you tired of renting and following the agreed terms from a landlord? Considering to be a fur parent but your landlord is not amiable to it? Or - do you feel the excitement of owning a new house?  Buying a house isn’t as simple as someone might think. For others, it’s actually a tedious task. From reviewing the market value to finding a great location, you will really need to put in a lot of effort if you want to find the perfect home. Here are a couple of things you may want to consider when house hunting: 1.    ValueWhen someone is buying a house, the first question we often hear is “How much is it?” or “Can I afford it?”.  If you find a house that is over your budget, the real question you should be asking is “Is it worth it?”.  Buying a house that is not in a conducive environment could potentially cost you more in the long run. Fault lines and traffic situations are just some of the factors that should be researched before buying a house. House repairs aren’t cheap. If you somehow bought a house that’s on or near a fault line, you better be ready for some emergency repairs once an earthquake hits.    Do you drive? How far is the house to your office? Gas is expensive so wasting it in traffic jams are unacceptable. The bottom line is, don’t just look at the price tag.  2.    TimingHouses will never depreciate (unless you don’t take care of it). With that being said, waiting for another year or so may potentially cost you more than you have saved. The average mortgage rate of a home loan worth $500,000 last January 2021 was 2.8% and it is projected to increase to at least 3.4% next year. This means that by the time you have decided to finally buy a house, the house will already be more expensive than it is today. Photo by Travel-Cents on Unsplash  3.    Future Always take into consideration your future when purchasing a house.  Are you planning to get married? Having kids? Do you plan on changing careers? These are the questions you should be asking yourself. If you are planning to get married and have kids, you have to make sure that the house you will be buying is ready for a family.  Photo by Avi Werde on Unsplash            If you plan on changing careers or are open to moving in case your job requires you to, you have to consider if the house you are going to buy is resaleable.              At the end of the day, always know that buying a house is more than just a purchase, it is a commitment. Everything needs to be researched and studied carefully because it’s not just a house that you are investing in, it is your future - and a place that you will call - Home.