Tami Savage, Realtor

Your Key to a New Lifestyle

  • Search for Homes
  • Blog
  • About
  • Contact
  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

Where Are Home Values Headed Over the Next 12 Months?

September 29, 2020 By Tami Savage

Where Are Home Values Headed Over the Next 12 Months?

As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt? Even worse, would home values begin to depreciate?

Original forecasts modeled this uncertainty, and they ranged anywhere from home values gaining 3% (Zelman & Associates) to home values depreciating by more than 6% (CoreLogic).

However, as the year unfolded, it became clear that there would be little negative impact on the housing market. As Mark Fleming, Chief Economist at First American, recently revealed:

“The only major industry to display immunity to the economic impacts of the coronavirus is the housing market.”

Have prices continued to appreciate so far this year?

Last week, the Federal Housing Finance Agency (FHFA) released its latest Home Price Index. The report showed home prices actually rose 6.5% from the same time last year. FHFA also noted that price appreciation accelerated to record levels over the summer months:

“Between May & July 2020, national prices increased by over 2%, which represents the largest two-month price increase observed since the start of the index in 1991.”

What are the experts forecasting for home prices going forward?

Below is a graph of home price projections for the next year. Since the market has changed dramatically over the last few months, this graph shows forecasts that have been published since September 1st.

Projections on Home Prices Over the Next 12 Months. All projections after 9/1. Zelman 5.9%, Zillow 4.8%, Fannie Mae 4.4%, NAR 4.3%, HPES 3.7%, MBA 3.4%, CoreLogic 0.6%.

Bottom Line

The numbers show that home values have weathered the storm of the pandemic. Let’s connect if you want to know what your home is currently worth and how that may enable you to make a move this year.

Tagged With: For Buyers, For Sellers, Housing Market Updates, Pricing

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Free eGuide. Things to Consider When Buying a Home. Send me this eGuide.

Free eGuide. Things to Consider When Selling Your House. Send me this eGuide.

A Guide to Buying Your First Home. Send me this eGuide.

Tags

Baby Boomers Buying Myths Community Demographics Distressed Properties Down Payments First Time Home Buyers Forbearances For Buyers Foreclosures For Sale By Owners For Sellers FSBOs Garden Generation X Generation Z Gen X Gen Z Holidays Home Home Trends Housing Market Updates Infographics Interest Rates Interview Investors Lifestyle Luxury Market Millennials Move-Up Buyers moving New Construction Pricing relocation Remodel Rent vs Buy Report Reviews Selling Myths Senior Market Short Sales SOLD Tax Refund Veterans Video

About Me

I help homeowners sell their existing home and shift into a home more suitable to their needs in the North Metro Atlanta area (specifically around Cumming, Canton, & Milton). Read More…

Let’s Connect

770-744-2524‬ or
(888) 959-9461 x2543

Digitial Business Card

 

  • Email
  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

Calculate Mortgage Payments

Below is a mortgage calculator you may use to help give you an estimate on your monthly payment and other details.

Once calculated, next to the monthly payment on the far right is a small graphic you can click on to see the payment schedule.

Calculate Mortgage Payments

www.mlcalc.com
Copyright © 2019+ Tami Savage LLC. All Rights Reserved. Privacy Policy

DISCLAIMER: The information contained, and the opinions expressed, on this site are NOT intended to be construed as legal or financial advice. Tami Savage does NOT guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as legal or financial advice. You should ALWAYS conduct your own research and due diligence and obtain professional advice before making any legal or financial decisions. Tami Savage will NOT be liable for any loss or damage caused by your reliance on the information or opinions contained herein.