What is Really Happening with Home Prices?

    What is Really Happening with Home Prices?

    What is Really Happening with Home Prices? | Simplifying The Market

    Toward the end of 2018 and early 2019, many news articles spoke of home values softening a bit.  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

    The greater Grand Rapids and surrounding  West Michigan area housing markets are stronger than the averages found in the rest of the nation. And  a strong economy and a good housing market post data that shows we will continue to have a thriving real estate market.

    Make this market work for you! Let’s talk!

    Message John

    Source: Michigan Real Estate Updates

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