https://www.google.com/analytics/web/#home/a69066132w111663562p116541675/

Is SoCal's Home Price Appreciation Accelerating Again?

Dated: April 29 2021

Views: 7

Is Home Price Appreciation Accelerating Again? | MyKCM

At the beginning of the year, industry forecasts called for home price appreciation to slow to about half of the double-digit increase we saw last year. The thinking was that inventory would increase from record-low levels and put an end to the bidding wars that have driven home prices up over the past twelve months. However, that increase in inventory has yet to materialize. The National Association of Realtors (NAR) reports that there are currently 410,000 fewer single-family homes available for sale than there were at this time last year.

This has forced those who made appreciation forecasts this past January to amend those projections. The Mortgage Bankers AssociationFannie MaeFreddie Mac, the National Association of Realtors, and Zelman & Associates have all adjusted their numbers upward after reviewing first quarter housing data. Here are their original forecasts and their newly updated projections:Is Home Price Appreciation Accelerating Again? | MyKCMEven with the increases, the updated projections still don’t reach the above 10% appreciation levels of 2020. However, a jump in the average projection from 5.3% to 7.7% after just one quarter is substantial. Demand will remain strong, so future appreciation will be determined by how quickly listing inventory makes its way to the market.

Bottom Line

Entering 2021, there was some speculation that we might see price appreciation slow dramatically this year. Today, experts believe that won’t be the case. Home values will remain strong throughout the year.

 

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Comments (0)

SUBSCRIBE TO COMMENTSComment
 
Post a Comment
Blog author image

Chris B Johnson

state_license/dre/bre_number: CalDRE 01501699 Chris B. Johnson REALTOR® Specializes in Luxury Estates and Home Auctions, Short Sale, Foreclosure and Probate Real Estate, Chris has been Certified as a....

Latest Blog Posts

The Power of a SoCal Mortgage Pre-Approval [INFOGRAPHIC]

By Chris B Johnson REALTOR®Real Estate Agent with Allison James Elite CA. DRE 01501699May 07, 2021 12:16 PMSome Highlights Mortgage pre-approval means a lender has

Read More

El poder de la preaprobación de la hipoteca [Infografía]

By Chris B Johnson REALTOR®Real Estate Agent with Allison James Elite CA. DRE 01501699May 07, 2021 12:04 PMEl poder de la preaprobación de la hipoteca [Infografía]  

Read More

Waiting 2 Buy a SoCal Home Could Cost You a Small Fortune

By Chris B Johnson REALTOR®Real Estate Agent with Allison James Elite CA. DRE 01501699May 06, 2021 09:26 AMMany people are sitting on the fence trying to decide if now&rsquo

Read More

Por qué esperar para comprar una casa podría costarle una pequeña fortuna

By Chris B Johnson REALTOR®Real Estate Agent with Allison James Elite CA. DRE 01501699May 06, 2021 09:21 AMPor qué esperar para comprar una casa podría costarle una peque

Read More