What You Need to Know About The Future of Home Prices
The value of homes has increased rapidly over the last year, creating a historically competitive market. This has led to a lot of questions about the future of home prices for consumers. While experts predict real estate will continue to appreciate, there are signs that the rate of appreciation may be slowing to closer-to-normal levels in the coming years. The market still undoubtedly favors sellers’ and the demand for new homes continues to be high. A slower growth rate could bring relief to homebuyers who had put their searches on hold. The exact outcome has yet to be seen, but there is certainly exciting news on the horizon for homebuyers, sellers, and builders. Here is a round up of everything you need to know. Current Housing Market and Home Prices Realtor.com shows that the number of homes available for sale inched up 5.7 percent in August. That follows 8.8% and 10.4% inventory gains, respectively, in June and July. Since bottoming out this spring, inventory is up 30 percent. – Fortune.com. Home prices skyrocketed 18.1% year-over-year in August, CoreLogic said; the fastest rate of price growth in at least 45 years. Buyers showed reluctance and now seem to be the ones
