24874, Pineville, WV

Home equity is the difference between what a homeowner owes on their home and the value of their home. Home prices are the amount that someone is willing to pay for a property. In Pineville, WV, home equity and home prices have been on the rise in recent years. According to Zillow, as of September 2017, the median home value in Pineville was $128,900. This is an increase from $122,500 in September 2016. The median home equity in Pineville was also increasing during this time period; it was $87,700 as of September 2017 compared to $81,000 as of September 2016.

One reason for this increase in home values and home equity may be due to the low interest rates that are currently available. Rates have been low for a long time now and people may be more likely to buy a house if they can get financing at a low interest rate. Additionally, there has been an increase in demand for homes in Pineville because of its proximity to major cities like Charleston and Huntington (both within 50 miles).

Another reason for the increase in home values and home equity may be due to stricter lending guidelines from banks and lenders recently. Banks are becoming more cautious about who they lend money to because there has been an increase in mortgage fraud recently (especially with regards to adjustable-rate mortgages). As a result of these stricter lending guidelines, many people who were looking to buy a house have had to wait longer than usual or look elsewhere because banks will not approve them for a loan at current rates.

Despite these reasons why homes are worth more now than they were several years ago, there is still some uncertainty surrounding both the short-term future of housing prices and long-term stability of homeownership rates due largely to political factors outside our control such as tariffs/trade wars/etc..