2017 to See Slight Showing of Home Price Movement

Real Estate Broker/Owner with The Celtic Connection Realty BR545869000

Subdued home price growth estimates for 2017 are increasing as end-of-year data becomes available, indicating a slight showing of movement in the year ahead.

CoreLogic, most recently, bumped up its price projection to 4.7 percent year-over-year based on November 2016 prices, which were 1.1 percent higher month-over-month and 7.1 percent higher year-over-year. The 4.7 percent projection is an increase from CoreLogic’s 4.6 percent projection given in October.

“Last summer’s very low mortgage rates sparked demand, and with for-sale inventories low, the result has been a pick-up in home price growth,” says Dr. Frank Nothaft, chief economist for CoreLogic. “With mortgage rates higher today and expected to rise even further in 2017, our national Home Price Index [HPI] is expected to slow to 4.7 percent year-over-year by November 2017.”

Mortgage rates exceeded 4 percent for the first time in 2016 at the end of November, and have continued to tread upward since, with the Federal Reserve’s decision to raise the key interest rate in December impacting the climb. The 30-year fixed-rate mortgage closed out 2016 at an average 4.32 percent, according to Freddie Mac.

Demand seen in the summer did not let up at the end of the year, during what would typically be a slow season for housing activity, says Jonathan Smoke, chief economist of realtor.com®.

“Since the election, demand seems to have intensified, possibly in reaction to a jump in mortgage rates, Smoke said in a recent data preview. “Now buyers seem to feel a sense of urgency as they face the threat of rates that may approach multi-year highs in the months ahead.”

Source: RIS Media by CoreLogic

Ed and Celia Maddox


Ed and Celia Maddox

The Celtic Connection Team

Solutions Real Estate

Edward Maddox, Associate Broker, MRE, GRI, ABR

The Celtic Connection Realty Team - We Take the High Road

Solutions Real Estate - Multi-Million Dollar Producers 2004-2016

Direct: 480-987-9322  Cell: 480-612-7968  Fax: 800-410-9607

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A FEW OF OUR TESTIMONIALS (Additional ones upon request)


Nicole Marr

Celia and Ed Maddox were wonderful to work with. They were extremely patient with me and very flexible with showing houses. It's nice to work with a husband and wife team because it really is twice the service! They complement one another nicely and both bring different perspectives to the table so you get very well rounded views and opinions from them both. I plan on staying in my home for many years, but if I ever do buy or sell again in the future I will definitely use Ed and Celia!


Ron and Ellen Littlejohn

Thanks so much for all your help with the purchase of our new home.



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Edward and Celia Maddox, Associate Broker, MRE, GRI, ABR
The Celtic Connection Realty - We Take the High Road
Solutions Real Estate - Multi-Million Dollar Producers 2004-2011
Direct: 480-987-9322 Cell: 480-612-7968
Fax: 800-410-9607




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