What is Really Happening with Home Prices?
Home values have softened over the last twelve months. We are no longer seeing 6-7% annual appreciation levels for the national housing market. The current numbers are closer to 4%. Some have suggested that year-over-year appreciation levels could fall to 3% or less this year.
However, a stronger-than-expected economy and a good spring housing market have changed some opinions. Some analysts are now predicting that home value appreciation may begin to increase as we move forward.
Here are three examples:
Mark Fleming, Chief Economist of First American
“Data on the movement of unadjusted house prices during the early spring home-buying season won’t be available for a few more months, but it’s quite likely that price appreciation will accelerate again.”
CoreLogic’s April “Home Price Insights”
“Home prices nationwide, including distressed sales, increased year over year by 3.7% in March 2019 compared with March 2018…The CoreLogic HPI Forecast indicates that home prices will increase by 4.8% on a year-over-year basis from March 2019 to March 2020.”
Pulsenomics’ Quarterly “Home Price Expectation Survey”
- The 2018 4th Quarter survey called for 3.8% appreciation for 2019.
- The 2019 1st Quarter survey raised the appreciation projection for this year to 4.3%.
Bottom Line
Price appreciation has slowed over the past year. However, a strong economy and a good housing market have many experts thinking that home values might re-accelerate moderately throughout the rest of this year.
To view original article, visit Keeping Current Matters.
Don’t Let Your Student Loans Delay Your Homeownership Plans
You don’t have to figure this out on your own. The best way to make a decision about your goals and next steps is to talk to the professionals.
Boomers Moving Will Be More Like a Gentle Tide Than a Tsunami
While not all baby boomers are looking to sell their homes and move – the ones who do won’t all do it at the same time.
The Best Week To List Your House Is Almost Here
The third week of April brings the best combination of housing market factors for sellers.
Is It Easier to Find a Home to Buy Now?
To help you explore the growing list of choices you have now, team up with a local real estate agent you trust.
What Every Homebuyer Should Know About Closing Costs
Your closing costs are the additional fees and payments you have to make at closing.
What Are Experts Saying About the Spring Housing Market?
If you’re planning to move soon, you might be wondering where prices and mortgage rates are headed, and how to navigate today’s market.