The selling price of similar homes in the area is one of the elements that appraisers take into consideration when determining what a particular house is worth. If other homes that are similar in size and features begin selling at a higher price, this can impact the appraised value of future sales. If inventory remains low, home prices will begin to rise. With interest rates remaining at historic lows, now is still an excellent time to buy a new home. New market conditions have also made this an excellent time to sell your current home.
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