I'm sure you've all heard how low mortgage interest rates are. And certianly now is a good time to buy your first home, move up or downsize (especially you empty nesters out there), or
Home Appreciation Is On The Rise, And The Demand – It May Be A Good Time For Homebuyers To Act Now
Dated: September 25 2019
In housing news, CoreLogic reported that home prices rose 0.5% in July and 3.6% year over year. The year over year reading increased from 3.4% to 3.6% and remains at a very sustainable and meaningful level for wealth creation.
CoreLogic forecasts that home prices will appreciate by 5.4% in the year going forward, which is very strong and better than the 5.2% year over year reading forecasted last month.
Frank Martel, CEO and President of CoreLogic, said that “Although the rise in home prices has slowed over the past several months, we see a reacceleration over the next year to just over 5% on an annualized basis. Lower rates are certainly making it more affordable to buy homes and millennial buyers are entering the market with increasing force. These positive demand drivers, which are occurring against a backdrop of persistent shortages in housing stock, are the major drivers for higher home prices, which will likely continue to rise for the foreseeable future.”
Housing industry experts are expecting to generally see housing appreciation increase year over year. Before home prices go up, it may be a good time now for your clients who have been looking to buy but just haven’t entered the housing market.
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In housing news, CoreLogic reported that home prices rose 0.5% in July and 3.6% year over year. The year over year reading increased from 3.4% to 3.6% and remains at a very sustainable and