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.
There’s Only Half the Inventory of a Normal Housing Market Today
If you want to list your house, know that there’s only about half the inventory there’d usually be in a more normal year.
Four Ways You Can Use Your Home Equity
Understanding how home equity works, and how to leverage it, is important for any homeowner.
Sellers: Don’t Let These Two Things Hold You Back
If fear you won’t be able to find your next home is the primary thing holding you back, remember to consider all your options.
Pricing Your House Right Still Matters Today
Pricing your house fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it.
Homebuyers Are Still More Active Than Usual
Buyer demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes on the market.
Don’t Fall for the Next Shocking Headlines About Home Prices
In the coming months, you’re going to see even more headlines that either get what’s happening with home prices wrong or are misleading.