JACKSONVILLE, Fla. – The value of your home here in Jacksonville is on the rise.
In fact the latest data from Corelogic shows home prices in April of this year jumped 7.7% compared to April of last year. And almost one percent between March and April of this year.
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The housing market here is healthier when you compare this areas numbers to the national average. Nationwide home value was up 6.9%
Corelogic chief economist Frank Nothaft says low mortgage interest rates are behind the increase in value. "Mortgage rates in April dropped to their lowest levels since November 2016, spurring home-buying activity," he said. "This has led home-price growth to outpace rent gains."
Corelogic economists forecast a continuing rise in home prices. They expect them to rise 5% over the next year.