Home values once again on the rise

According to new data from property website Zillow, the median home value in the U.S. is now $188,100, up five percent since last August. The data also shows that rents are now growing slower than home values.

Though rents continue to rise, the increase is now behind that of those in home values. Last year at this time, rents were up over six percent, but are now appreciating by just 1.7 percent. Despite that, consider that incomes are now appreciating faster than home values for the first time since 2011.

While it’s true that home values rising faster than rents could be a sign of frothy housing markets it’s also true that home values are even more tied to incomes than they are to rents.

As home property values increase, homeowners may want to consider a Home Equity Line-of-Credit to help as a way to pay for major expenses, such as a home renovation project. Travis Credit Union can help you determine your property’s value and show you what options are available to tap into your home’s equity to ensure your home remains in great shape. Visit our Home Equity Financing for more information or call us during normal business hours at (888) 698-0000.

Home Equity Home Equity FAQs