Lessons; From Home Prices 2019 On The Upswing!
National home prices increased 4% year over year in December 2019 and are forecast to increase 5.2% from December 2019 to December 2020, according to the latest CoreLogic Home Price Index (HPI®) Report. The December 2019 HPI gain was down from the December 2018 gain of 4.4% and was up from the November 2019 gain of 3.5%. Price appreciation averaged 3.6% for full year 2019, a large slowdown from the 2018 full year average of 5.8%. Home price growth started last year off at 4.2% in January, dipped down to 3.3% in late summer, but then started climbing back in November, reaching 4% at the end of the year. The full year average for 2020 is expected to climb to 4.6%.
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Homebuyers are watching the economy closely, and for good reason. Buying a home is one of the biggest purchases most people ever make.
A lot of buyers are stuck in “wait and see” mode right now. They’re watching rates hover a little above 6% and thinking, I’ll buy once they hit the 5s
There’s been a lot of talk lately about how a government shutdown impacts the housing market. You might be wondering: Is it causing everything to grind to a halt?
Mortgage rates have been the monster under the bed for a while. Every time they tick up, people flinch and say, “Maybe I’ll wait.” But here’s the twist. Waiting for that perfect 5-point-something rate could end up haunting your wallet later.
These days, you’re going to want to get your price right when you get ready to sell your house. Honestly, it’s more important than ever.
After reviewing what Lake Arrowhead Buyers need most affordability and rates!
