Thank Goodness Home Prices Are Not Increasing Very Quickly!

There have been two very unique four year periods in recent history where the local median sales price increased to $192K.

When home values increased between 2003 and 2006 up to a high of $192,983 -- they did so by increasing by 13% - 17% per year!!  As we now know, this was NOT sustainable!  Household income was not increasing at that same rate during that timeframe, house prices became too high for many to afford, and we experienced a significant market correction downturn.

In contrast, over the past four years our median sales price has increased by 1% - 4% per year up to last year's level of $192,500.  This seems like MUCH more sustainable growth and provides hope that today's home prices are stable and will continue to slowly increase over time.