[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fubls49h4dp2n":3,"$ffeh0925h8cuz":43,"$fbwk2pqjjqsc7":47},{"item":4,"previous":31,"next":37},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":30},15568,"unpacking-the-long-term-benefits-of-homeownership","Unpacking the Long-Term Benefits of Homeownership","\u003Cp>If you’re thinking about buying a home soon, higher mortgage rates, rising home prices, and ongoing affordability concerns may make you wonder if it still makes sense to buy a home right now.\u003C\u002Fp>","","blog","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fcontent\u002Fimages\u002F20230928\u002F20231002-Unpacking-the-long-term-benefits-of-homeownership.png","\u003Cp>If you’re thinking about buying a home soon, higher \u003Ca href=\"\u002F2023\u002F09\u002F06\u002Fmortgage-rates-past-present-and-possible-future\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">mortgage rates\u003C\u002Fa>, rising \u003Ca href=\"\u002F2023\u002F09\u002F08\u002Fhome-price-forecasts-revised-for-2023-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">home prices\u003C\u002Fa>, and ongoing affordability concerns may make you wonder if it still makes sense to buy a home right now. While those market factors are important, there's more to consider. You should think about the long-term benefits of \u003Ca href=\"\u002F2023\u002F09\u002F21\u002Fthe-many-non-financial-benefits-of-homeownership\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">homeownership\u003C\u002Fa> too.\u003C\u002Fp>\u003Cp>Think about this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your \u003Ca href=\"\u002F2023\u002F09\u002F01\u002Fhomeowners-have-a-lot-of-equity-right-now-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">own wealth\u003C\u002Fa>. That may be why, in a recent \u003Cem>Fannie Mae \u003C\u002Fem>\u003Ca href=\"https:\u002F\u002Fwww.fanniemae.com\u002Fresearch-and-insights\u002Fperspectives\u002Fconsumers-homeownership-aspirations-remain-high-despite-higher-home-prices-and-interest-rates\" rel=\"noopener noreferrer\" target=\"_blank\">survey\u003C\u002Fa>, 76% of respondents say they believe buying a home is a safe investment.\u003C\u002Fp>\u003Cp>Here’s a look at how just the home price appreciation piece can really add up over the years.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Home Price Growth over Time\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>The map below uses \u003Ca href=\"https:\u002F\u002Fwww.fhfa.gov\u002FDataTools\u002FTools\u002FPages\u002FHouse-Price-Index-(HPI).aspx\" rel=\"noopener noreferrer\" target=\"_blank\">data\u003C\u002Fa> from the \u003Cem>Federal Housing Finance Agency\u003C\u002Fem> (FHFA) to show just how noteworthy price gains have been over the last five years. And, since \u003Ca href=\"\u002F2023\u002F09\u002F26\u002Fthe-return-of-normal-seasonality-for-home-price-appreciation\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">home prices\u003C\u002Fa> vary by area, the map is broken out regionally to help convey larger market trends:\u003C\u002Fp>\u003Cp>\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fcontent\u002Fimages\u002F20230928\u002F20231002-Percent-Change-in-Home-Prices-over-5-years.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fcontent\u002Fimages\u002F20230928\u002F20231002-Percent-Change-in-Home-Prices-over-5-years.png\">\u003C\u002Fa>\u003C\u002Fp>\u003Cp>\u003Cstrong>If you look at the percent change in home prices, you can see home prices grew on average by just over 57% nationwide over a five-year period.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Some regions are slightly above or below that average, but overall, \u003Ca href=\"\u002F2023\u002F08\u002F11\u002Fhome-prices-are-back-on-the-rise-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">home prices\u003C\u002Fa> gained solid ground in a short time. And if you expand that time frame even more, the benefit of homeownership and the drastic gains homeowners made over the years become even clearer (\u003Cem>see map below\u003C\u002Fem>):\u003C\u002Fp>\u003Cp>\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fcontent\u002Fimages\u002F20230928\u002F20231002-Percent-Change-in-Home-Prices-since-91.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fcontent\u002Fimages\u002F20230928\u002F20231002-Percent-Change-in-Home-Prices-since-91.png\">\u003C\u002Fa>\u003C\u002Fp>\u003Cp>\u003Cstrong>The second map shows, nationwide, home prices appreciated by an average of over 297% over a roughly 30-year span.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>This nationwide average tells you the typical homeowner who bought a house 30 years ago saw their home almost triple in value over that time. That’s a key factor in why so many homeowners who bought their homes years ago are still happy with their decision.\u003C\u002Fp>\u003Cp>And while you may have heard talk throughout the year that \u003Ca href=\"\u002F2023\u002F09\u002F08\u002Fhome-price-forecasts-revised-for-2023-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">home prices\u003C\u002Fa> would crash, it hasn’t happened. In fact, experts \u003Ca href=\"\u002F2023\u002F09\u002F12\u002Fwhat-experts-project-for-home-prices-over-the-next-5-years\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">project\u003C\u002Fa> home prices will continue to rise for years to come. \u003C\u002Fp>","\u003Cp>If you’re wondering if it still makes sense to buy a home today, it's important to focus on the long-term advantages that come with homeownership. When you’re ready to start your homebuying journey, let’s chat.\u003C\u002Fp>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fcontent\u002Fimages\u002F20230928\u002F20231002-Percent-Change-in-Home-Prices-over-5-years.png",false,[17,21,25],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},38,"Move-Up","move-up","2023-10-02T10:30:00Z","2023-10-02T10:30:18Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},15569,"explaining-todays-low-housing-supply-infographic","Explaining Today’s Low Housing Supply [INFOGRAPHIC]","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fcontent\u002Fimages\u002F20230928\u002FExplaining-Todays-Low-Housing-Supply-KCM-Share.png","2023-09-29T10:30:00Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},15570,"home-prices-are-not-falling","Home Prices Are Not Falling","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fcontent\u002Fimages\u002F20230929\u002F20231003-Home-Prices-Are-Not-Falling.png","2023-10-03T10:30:00Z",{"cover":44,"open":45,"shareSpread":46},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[48,52,53,57,61,65,69,70,74,78,79,83,87,91,95,99,103,107,111,115,119,123,127,131,135,139,143,147,151,155],{"id":49,"name":50,"slug":51},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":54,"name":55,"slug":56},6,"For Sellers","sellers",{"id":58,"name":59,"slug":60},7,"Foreclosures","foreclosures",{"id":62,"name":63,"slug":64},8,"Infographics","infographics",{"id":66,"name":67,"slug":68},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":71,"name":72,"slug":73},34,"Senior Market","senior-market",{"id":75,"name":76,"slug":77},35,"Mortgage Rates","mortgage-rates",{"id":26,"name":27,"slug":28},{"id":80,"name":81,"slug":82},41,"For Sale by Owner","for-sale-by-owner",{"id":84,"name":85,"slug":86},42,"Featured","featured",{"id":88,"name":89,"slug":90},45,"New Construction","new-construction",{"id":92,"name":93,"slug":94},52,"Luxury \u002F Vacation","luxury--vacation",{"id":96,"name":97,"slug":98},53,"Rent vs. Buy","rent-vs-buy",{"id":100,"name":101,"slug":102},80,"Time-sensitive","time-sensitive",{"id":104,"name":105,"slug":106},81,"Outdated","outdated",{"id":108,"name":109,"slug":110},147,"Internal","internal",{"id":112,"name":113,"slug":114},148,"Do Not Autopost","do-not-autopost",{"id":116,"name":117,"slug":118},320,"Inventory","inventory",{"id":120,"name":121,"slug":122},321,"Agent Value","agent-value",{"id":124,"name":125,"slug":126},322,"Affordability","affordability",{"id":128,"name":129,"slug":130},323,"Buying Tips","buying-tips",{"id":132,"name":133,"slug":134},324,"Downsize","downsize",{"id":136,"name":137,"slug":138},325,"Economy","economy",{"id":140,"name":141,"slug":142},326,"Equity","equity",{"id":144,"name":145,"slug":146},327,"Forecasts","forecasts",{"id":148,"name":149,"slug":150},328,"Selling Tips","selling-tips",{"id":152,"name":153,"slug":154},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":156,"name":157,"slug":158},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]