Have You Outgrown Your Starter Home?

Have You Outgrown Your Starter Home? | Simplifying The Market

For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment.

It may seem hard to imagine that the first home you purchased (which made your dreams come true) might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit that your home no longer fits your needs!

According to CoreLogic’s latest Home Price Index, prices in the starter home market have appreciated faster than any other category over the last year, at 9.4%. At the same time, inventory in this category has dropped 14.2%.

Have You Outgrown Your Starter Home? | Simplifying The Market

These two stats are directly related to one another. As inventory has decreased and demand has increased, prices have been driven up.

This is great news if you own a starter home and are looking to move up to a larger home as the equity in your home has risen as prices have gone up. Even better is the fact that there is a large pool of buyers out there searching for your starter home to help them achieve their American Dream!

Bottom Line

If you have outgrown your starter home, contact a local real estate professional who can explain the market conditions in your area and help you find your next home!

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Local Knowledge - Trusted Real Estate

As a Full Service Realtor now for nearly 20 years nothing makes me happier than helping with the biggest purchase of one's life!
Marcia Tolin
REALTOR
CA BRE #00941166

CONTACT US

  • 619-804-1820

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  • MarciaTolin@Gmail.com
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Local real estate services provided by:
Coldwell Banker West

Office:
8277 La Mesa Boulevard
La Mesa, CA 91942
Jose Gomez Unibe, CAL BRE 00889834
Office: 619.303.8709

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