It’s time again for another edition of “You’ve Got Questions, We’ve Got Answers.” This time, we’re answering the question, “What is going on with this year’s housing market?”
So far this year, the market has softened, and we’re looking at about a 4% appreciation rate, compared to the 6% to 7% rate we saw last year. What does this mean? The economy is still good, and the spring housing market was excellent, so appreciation remains steady.
Some people are saying that appreciation is going to drop further into the 3% range, but that’s not what we’re thinking. According to CoreLogic and PulseNomics, the appreciation rate should continue between 4.3% and 4.8% this year. This is due to a fantastic economy and a very strong housing market.
If you’re thinking about buying or selling, go ahead and jump right in—the water is fine. If you have any questions for us in the meantime, don’t hesitate to reach out and give us a call or send us an email. We’d love to be of assistance.