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    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%.

    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. Find out what this may mean to you as a home buyer, seller and owner. Reach out to our team and be more informed for your real estate decisions!

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    Ann Rudd

    Ann is a 3rd generation real estate professional in her family and has inactive licenses in Maryland and Pennsylvania and is actively licensed in North and South Carolina. Seeing other members of her family help others achieve their home ownership dreams inspired her to become a real estate agent. Helping families is what her job is all about. Whether they are buying a larger home, downsizing, transitioning to a new town or neighborhood, Ann's mission is to make those transitions as smooth as possible.

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