If you need assistance, please call 707-486-5400

Entry-Level Homeowners Are in the Driver’s Seat

Wednesday, February 26, 2020   /   by Nicole Solari

Entry-Level Homeowners Are in the Driver’s Seat

Entry-Level Homeowners Are in the Driver’s Seat


One thing helping homeowners right now is price appreciation, especially in the entry-level market. In the latest Home Price Insights report, CoreLogic reveals how home prices increased by 4% year-over-year and projects prices will rise 5.2% by December 2020.


Why is this good news for the homeowners?


When prices appreciate, homeowners gain equity. In addition, those planning to sell this year, especially in the entry-level market, can potentially earn a substantial profit.


Dr. Frank Nothaft, Chief Economist at CoreLogic, says:



“Moderately priced homes are in high demand and short supply, pushing up values…Homes that sold for 25% or more below the local median price experienced a 5.9% price gain in 2019, compared with a 3.7% gain for homes that sold for 25% or more above the median.”


As Dr. Nothaft indicates, the lack of inventory continues to drive home price growth. This means there’s a high demand for homes in this tier of the market, making it a great time to consider using your equity to move up to a bigger or more premium home.


When you upgrade your home, you may be able to find the amenities or features you’ve dreamed of – such as a yard to plant or garden in with your family this spring, or more outdoor space for entertaining this summer. Maybe it’s the master bath you’ve always hoped for, or a garage to finally park your car inside.


Whatever you choose, if you’re moving out of an entry-level house, you’re likely going to be in the driver’s seat as a seller.


Bottom Line


If you’d like to own a bigger home, sit down with a local real estate professional to discuss your situation. You may be surprised by the current value of your home and the equity you’ve gained.


  real estate, home ownership

Level Up Realty
Nicole Solari
490 Chadbourne Road, Suite A123
Fairfield, CA 94534
707-486-5400
DRE# 02014153

IDX Content is provided via the Internet for consumers’ personal, non-commercial use. Variable Price’ indicates the seller is willing to entertain offers within a Listing Price Range. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. IDX provided by Commissions Inc. Data last updated:November 28, 2022
This site powered by CINC: www.cincpro.com