What Rising Home Prices Mean for Your Real Estate Investments
It's no secret that U.S. property values are up across the board (and if you're not convinced, ask any frustrated homebuyer who's been struggling for months to find a home in their price range). In November, the National Association of Realtors reported that during the third quarter, the median sale price of existing single-family homes rose in 99% of 183 markets, with double-digit gains in 78% of those markets.
All told, the median sale price for an existing family home climbed 16% during 2021's third quarter from a year prior, bringing that number up to $363,700. And while price acceleration may be a bad thing for prospective buyers, as a real estate investor with a portfolio of properties, it may be a positive thing for you.
That said, higher home values could also lead to higher costs on your end. Here are three things you can expect as an investor in the near term.
Source Fool.com
