From Quicken Loans; "What is the Average Appreciation Rate for Homes."
What Does Appreciation Mean In Real Estate? 5-Minute Read Published on December 17, 2020 What Is The Average Appreciation Rate For Homes? The national average appreciation rate is 3% – 5% . The first thing you have to understand is that your land will drive the overall appreciation value of your home. However, certain situations like COVID-19 can change the entire situation a bit. Just to give you some context, in January of 2020, Veros Real Estate Solutions, a leader in enterprise risk management and collateral valuation, predicted that home appreciation values for 2020 would be 3.9% . However, just 4 months later, with COVID-19 in full effect, they changed their prediction to a drop to 1.9% for 2020. Another issue you could have with your home’s value is that it’s in a constant state of depreciation over time. The reason this is happening is due to maintenance, renovations and general upkeep. If you don’t maintain your home, its value can d...
