values headed upward: What's Causing Lancaster, PA Home Prices to Rise ? - 03/23/18 01:06 PM
Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rise in mortgage rates might have on the housing market this year.
Many believe that an increase in mortgage rates will cause a slowdown in purchases which would, in turn, lead to a fall in house values. Ultimately, however, prices are determined by supply and demand and while rising mortgage rates may slow demand, they also affect supply. From the report:
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values headed upward: How Much are Lancaster,PA Homes Really Appreciating ? - 03/02/18 08:47 AM
 
  Are Lancaster's Home Values Really Overinflated? Last week, the National Association of Realtors (NAR) released their most recent Existing Home Sales Report. According to the report:
“The median existing-home price for all housing types in January was $240,500, up 5.8 percent from January 2017 ($227,300). January’s price increase marks the 71st straight month of year-over-year gains.”
Seventy-one consecutive months of price increases may have some concerned that current home values may be overinflated.
However, at the same time, Zillow issued a press release which revealed:
“If the housing bubble and bust had not happened, and home values had instead appreciated … (4 comments)

 
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Michael J. Perry

Lancaster, PA Relo Specialist

Lancaster, PA

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