Get Ready for Home Price Increases Next Year

September 9, 2019
hand holding smart phone to see home price increases
Photo by Austin Distel on Unsplash

After price appreciation hit the brakes during much of 2019, a new CoreLogic report suggests that home price growth will increase 5.4% by July 2020.

“With the for-sale inventory remaining low in many markets, the pick-up in buying has nudged price growth up,” Frank Nothaft, chief economist at CoreLogic, said in the report. “If low interest rates and rising income continue, then we expect home-price growth will strengthen over the coming year.”

How much room home prices have to grow remains an open question. CoreLogic estimated that the real-estate markets in nearly one in four metropolitan areas were undervalued. CoreLogic defines an undervalued market as one where home prices are at least 10% below what it determines to be the sustainable level where supply and demand are balanced.

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