Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Growth in home prices continues to slow in January: CoreLogic

03/05/2019

Download PDF

In January, home prices grew by the smallest rate since 2012, increasing by a mere 4.4 percent year-over-year and just 0.1 percent over the first month of 2019, according to new data from CoreLogic released Tuesday.

Since 2012, home values have increased steadily, giving many homeowners confidence that their equity would continue to grow unabated. Recent market trends, however, point toward a turnaround. After peaking at 6.6 percent in April, growth has been slowing steadily since then.

“The spike in mortgage interest rates last fall chilled buyer activity and led to a slowdown in home sales and price growth,” said CoreLogic Chief Economist Dr. Frank Nothaft in a prepared statement. “With interest rates at this level, we expect a solid home-buying season this spring.”

Courtesy of CoreLogic.

While states including Washington and Colorado have previously seen double-digit growth, only Idaho and Nevada have experienced home value escalations by more than 10 percent. In Louisiana and North Dakota, home values fell by 0.8 percent and 0.7 percent, respectively.

The slowdown is the result of increasing unaffordability, according to CoreLogic. As home values and mortgage rates rise, some people are delaying decisions to buy property in the hope of better rates.

The best advice I’ve ever received about luxury customer service Five top producers on the guidance that set them up for success READ MORE

Courtesy of CoreLogic.

Experts, however, believe the turnaround may not offer the kind of relief many are hoping for – any drop in home values will be modest and not significant enough to offset stagnating incomes, according to CoreLogic.

“The slowing growth in home prices was inevitable in many respects as buyers pull back in the face of higher borrowing and ownership costs,” CoreLogic President Frank Martell said a prepared statement. “As we head into 2019, we can expect continued strong employment growth and rising incomes which could support a re-acceleration in home-price appreciation later this year.”

Email Veronika Bondarenko

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Mission Chronicle Newsletter July 24, 2023

    Mortgage rates continued to press downward last week after the previous week's CPI data pointed to e...

  • Mission Chronicle Newsletter Feb 20, 2023

    Despite the recent downward trend in mortgage rates and hopes that the Fed was nearing the end of it...

  • Mission Chronicle Newsletter Feb 6, 2023

    The Federal Reserve meeting ended as market participants expected, with a quarter-point increase and...

  • Mission Chronicle Newsletter Dec 26, 2022

    Mortgage rates held relatively steady last week as most economic news came in better than expected.C...

  • Mission Chronicle Newsletter Dec 12, 2022

    Rates managed to move slightly downward last week as recession fears grew amid hopes that the Fedis ...

  • Mission Chronicle Newsletter Dec 5th 2022

    Mission Chronicle Newsletter Dec 5th 2022. Platforms: Browser, mobile-responsiveIdeal for: Leasing a...

  • Inman Review: Tenants and leasing teams get better connected with RentTango

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Tech Review: Smart Alto puts people first in its innovative lead qualification solution

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Refreshed and nurture-savvy, Market Leader’s CRM deserves your attention

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 4 tips to improve your negotiation skills

    In today’s luxury real estate market, strong negotiation skills are an asset—you might even say ...

March 2024
Mon Tue Wed Thu Fri Sat Sun
 123
45678910
11121314151617
18192021222324
25262728293031

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...