Home Value Appreciation Stops Falling, Begins to Stabilize
The percentage of home price appreciation on a year-over-year basis has decreased each month for over a year. The question was how far annual appreciation would fall. It seems we may now have the answer.
In a recent post on the National Association of Realtors’ Economists’ Outlook Blog, it was revealed that Realtors are starting to sense that home values are beginning to stabilize and that we may see appreciation beginning to accelerate again:
“About 3,000 REALTORS® who responded to NAR’s February 2019 REALTORS Confidence Index Survey had more optimistic— although modest— home price growth expectations over the next 12 months. Respondents expect home prices to typically increase by 1.9 percent nationally, up from 1.4 percent in the January survey.”
The thinking that home appreciation has bottomed-out was also confirmed in two additional housing reports recently released:
CoreLogic Home Price Index – The analysts at CoreLogic increased their projection for home appreciation for the next twelve months to 4.7% as compared to the 4.6% they projected in their previous report.
The Home Price Expectation Survey – In the 2019 first quarter survey, the nationwide panel of over one hundred economists, real estate experts, and investment & market strategists increased their projection for home value growth in 2019 to 4.3% compared to the 3.8% increase they had projected in the fourth quarter of 2018.
Bottom Line
Agents working the business every day, one of the premier data companies in the real estate space, and one hundred housing experts all agree: home price appreciation has ended its decline and looks to be stabilizing… and may even accelerate.
To view original article, visit Keeping Current Matters.
What You Should Know About Rising Mortgage Rates
If you stay the course, you’ll likely face less competition among other buyers when you’re looking for a home.
The Two Big Issues the Housing Market’s Facing Right Now
The biggest challenge the housing market’s facing is how few homes there are for sale. Here’s a look at why.
Spring into Action: Boost Your Home’s Curb Appeal with Expert Guidance
Remember to lean on your trusted real estate advisor for the best advice on the updates you should invest in.
Wondering What’s Going on with Home Prices?
U.S. house prices were largely unchanged in the last four months and remained near the peak levels reached last summer.
Why It’s Easy To Fall in Love with Homeownership
Over the last few years, we’ve fully embraced the meaning of our homes as we spent more time than ever in them.
What You Should Know About Closing Costs
Understanding what closing costs include is important, but knowing what you’ll need to budget to cover them is critical, too.