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 12 $345k - $1.3m
Pioneer 42 $205k - $2.5m
Volcano 8 $125k - $470k
Down Country
City # Price Range
Amador City 2 $500k - $795k
Fiddletown 7 $429k - $850k
Ione 15 $335k - $2.2m
Jackson 19 $299k - $1.3m
Plymouth 4 $455k - $2.7m
River Pines 2 $338k - $360k
Sutter Creek 12 $350k - $995k
New Listing

Email Alerts

Subscribe Today!
Have

Questions?

Contact Us Now!