In the past, homes have had an annual appreciation rate of about 5%. This changed in the years between 2000 and 2006. In that six year time period the appreciation rate was 89%, or nearly 15% per year on average. An average difference of 10% from the previous years! Today’s correction is a move back to stability

 

1980-1985 ---25%

1985-1990 ---------27%

1990-1995 ---25%

2000-2006 ----------------------------------------89%

SOURCE: REALTOR Magazine April 2009

 

 

 

What does this mean for Buyers?

 

Now is the time to invest in real estate! There is an excess of inventory on the market to choose from and prices are low. Don’t forget the Home Buyer Tax credit which was just extended to April 30, 2009.