Home Price Gains Highest Since 2005

Selling a house? Take recent home appreciation levels into account.

According to a June, 2015 press release by the group FNC, the United States' Residential Price Index™ (RPI) -- a "hedonic" index that FNC uses to evaluate changes in the U.S. market -- home prices climbed rapidly since March of 2015. In fact, the jump in numbers is the largest March-to-April increase FNC has seen since Spring of 2005.

Trying not to think too hard about the fact that 2005 was back in real-estate-bubble times, these are good times for home sellers. Overall inventory remains low, so you aren't facing a lot of competition from other sellers. The main competition you might observe is the bidding war that erupts among your buyers. Interested in learning more about how to best handle this onslaught of interest? See Nolo's articles "Evaluating the Price and Other Financial Parts of a Buyer’s Offer" and "I'm expecting letters from multiple buyers wanting my home -- does reading them risk a lawsuit?".

If you're not quite ready to list your home yet, don't panic: FNC predicts moderate price accelerations in the months ahead, owing to continued record-low interest rates and increased willingness by mortgage lenders to actually make loans.

For more information, see Nolo's newest real estate title: Selling Your House: Nolo's Essential Guide by Ilona Bray.