Currently in many major markets throughout the U.S. there is significant home price appreciation. Does that mean my every house in the U.S. has appreciated in value? If prices are up 5% in my market from last year does that mean my house is now worth 5% more? Maybe and maybe not. When looking at market trends and data, we must always know the perspective from which we are viewing.
Are you looking at national market trends, regional trends, or the trends applicable to your immediate market or neighborhood? It is great to take a look at all of the trends. We can start with the national trends and then "zoom in" to where our property is actually located.
Here is an illustration:
National Trends: Here are the current National Housing Market Trends for April from Realtor.com.