HOME PRICES: WHAT HAPPENED IN 2020? WHAT WILL HAPPEN THIS YEAR?

Are you thinking of selling your house but wondering what the market looks like this year in comparison to last year? This article provides some valuable insights into the housing market including the projected home price forecasts.

The? ?real? ?estate? ?market? ?was? ?on? ?fire? ?during? ?the? ?second? ?half? ?of? ?2020.? ?Buyer? ?demand? ?was? ?way? up,? ?and? ?the? ?supply? ?of? ?homes? ?available? ?for? ?sale? ?hit? ?record? ?lows.? ?The? ?price? ?of? ?anything? ?is? ?determined? ?by? ?the? ?supply? ?and? ?demand? ?ratio,? ?so? ?home? ?prices? ?skyrocketed? ?last? ?year.? ?Dr.? ?Lynn? ?Fisher, ?Deputy? ?Director? of? ?the ?Federal? ?Housing? ?Finance? ?Agency? (FHFA) ?Division? ?of? ?Research? and? ?Statistics?, ?explains?:? ?

“House? ?prices? ?nationwide? ?recorded? ?the? ?largest? ?annual? ?and? ?quarterly? ?increase? ?in? ?the? ?history? ?of? ?the? ?FHFA? ?Home? ?Price? ?Index.? ?Low? ?mortgage? ?rates,? ?pent? ?up? ?demand? ?from? ?homebuyers,? ?and? ?a? ?limited? ?housing? ?supply? ?propelled? ?every? ?region? ?of? ?the? ?country? ?to? ?experience? ?faster? ?growth? ?in? ?2020? ?compared? ?to? ?a? ?year? ?ago? ?despite? ?the? ?pandemic.”? ?

Here? ?are? ?the? ?year-end? ?home? ?price? ?appreciation? ?numbers? ?from? ?the? ?FHFA? ?and? ?two? ?other? ?prominent? ?pricing? ?indexes:? ?

• Federal? ?Housing? ?Finance? ?Agency? ?House? ?Price? ?Index? ?Report?:? ?10.8%? ?
• CoreLogic? ?Home? ?Price? ?Insights?:? ?9.2%? ?
• S&P? ?Case-Shiller? ?U.S.? ?National? ?Home? ?Price? ?Index?:? ?10.4%? ?

The? ?past? ?year? ?was? ?truly? ?a? ?remarkable? ?time? ?for? ?homeowners? ?as? ?prices? ?appreciated? substantially.? ?Lawrence? ?Yun, ?Senior? ?Economist? at? ?the ?National? ?Association? ?of? Realtors ?(NAR), ?reveals?:? ?

“A? ?typical? ?homeowner? ?in? ?2020,? ?just? ?by? ?being? ?a? ?homeowner,? ?would? ?have ?accumulated? ?around? $24,000? ?in? ?housing? ?wealth?.”? ?

What? ?will? ?happen? ?with? ?home? ?prices? ?this? ?year?? ?

Many? ?experts? ?believe? ?buyer? ?demand? ?will? ?soften? ?somewhat? ?as? ?mortgage? ?rates? ?are? ?poised? to ?bump? ?up? slightly.? ?Some? ?also? ?believe? ?the? ?inventory? ?challenge? ?will? ?ease? ?as ?more? listings? come? ?to? ?market? ?this? ?year.? Based? ?on? ?this,? ?most? ?forecasters? ?anticipate? ?we’ll? ?see? ?strong? ?appreciation? ?in? ?2021? ?– ?but? ?not? ?as? strong? ?as? ?last? ?year?.? ?Here? ?are? ?seven? ?prominent? ?groups? ?and? ?their? ?projections:

?

Bottom? ?Line? ?

Home? ?price? ?appreciation? ?will? ?be? ?strong? ?this? ?year,? ?but? ?it? ?won’t? ?reach? ?the? ?historic? ?levels? ?of? ?2020.? ?Let’s? ?connect? ?if? ?you’d? ?like? ?to? ?find? ?out? ?what? ?your? ?house? ?is? ?currently? ?worth? ?in? ?our? ?local? market.? ?

?? ?Keeping? ?Current? ?Matters,? ?Inc.? ?

Katina? ?Farrell,? ?CDRE? ?is? ?an? ?experienced? ?Realtor? ?&? ?Managing? ?Broker? ?who? ?specializes? ?in? ?real? ?estate? ?transactions,? ?with? ?expertise? ?as? ?a? ?trained? ?Certified? ?Divorce? ?Real? ?Estate? ?Expert? ?and? ?a? ?Certified? ?Negotiation? ?Expert.? ??To? ?schedule? ?a? ?complimentary? ?chat? ?and? ?discover? ?more? ?ways? ?Katina? ?can? ?help? ?you,? ?call:? ?720-295-8848? ?or? ?email:? ??[email protected]?. Website: www.homesbykatina.com.