Home Values Spike to Record High
Home values hit a record high as of December 2017 though, there are still concerns surrounding the overall growth.
"Home prices achieved a new peak in December while also marking 68 consecutive months in annual home price appreciation, according to Black Knight's Home Price Index," as reported by National Mortgage News.
"House values grew 6.62% to $283,000 from $265,000 year-over-year in December."
The continuing trend in the housing industry is focused on a tight inventory throughout the U.S. For buyers, experts believe that an increase in wages will contribute to the slow growth of home values as prices will reach premium numbers.
"Though home prices remained pretty steady from November to December, they spiked 1.71% in New York, the leader of all states in month-over-month appreciation," according to National Mortgage News.
"Nevada came second in home value growth, as prices increased 0.81%."
To further explore the growth in home values, click on the image above.