What is Really Happening with Home Prices?

What is Really Happening with Home Prices? | MyKCM

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.

Contact the Gold Country Modern Team, your Amador County real estate connection, for assistance buying or selling a home in the Gold Country.

Post a Comment

Current Homes for Sale
Upcountry
City # Price Range
Pine Grove 23 $200k - $1.2m
Pioneer 54 $175k - $835k
Volcano 18 $255k - $960k
Down Country
City # Price Range
Fiddletown 9 $275k - $1.7m
Ione 34 $235k - $2.7m
Jackson 19 $310k - $4.0m
Plymouth 16 $240k - $7.2m
River Pines 5 $30k - $365k
Sutter Creek 26 $250k - $2.1m
New Listing

Email Alerts

Subscribe Today!
Have

Questions?

Contact Us Now!