We’ve seen a slow increase in home prices throughout this year (almost 0.7%). Appreciation might be increasing slower than in 2018, but we’re expecting a radical increase over the next month (CoreLogic’s forecast says it might be around the 4.7% - 5.0% range).
“During the first two months of the year, home-price growth continued to decelerate. This is the opposite of what we saw the last two years when price growth accelerated early.” said Dr. Frank Nothaft, from CoreLogic.
You can expect assumptions regarding the increment or decrease in home values are gonna be changing drastically on the upcoming months. Many opinion experts believe we’ll be seeing a 3% increase, estimating a 2.2% minimal rise.
We saw mortgage rates come to a peak limit in November of 2018, nearly at 5%. A general discouragement can be heard and seen since this date, people are going with their gut and are getting discouraged. I understand, I believe we’ll be reaching a recession soon, but this doesn’t mean we are heading to a similar situation like the 2008 market crash. We’ll be seeing a lot of change and conflict around our national economic policy, the very same government is changing routes and looking for a steady way of managing and supporting stability in all markets.