Are home prices going up or down? Should I wait and buy? These are two of the most commonly asked questions I get on a daily basis as a Realtor. In today’s video, we are going to discuss the latest report from CoreLogic regarding their home price index and how low supply and high buyer demand continues to drive home prices up. I also discuss my housing market forecast and what I expect the home price forecast to look like as we moving into the 2021 Housing Market.
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Articles Referenced in this real estate market update:
➡Corelogic report on Home Prices –https://www.cnbc.com/video/2020/10/06/home-values-rise-at-fastest-rate-in-two-years-according-to-corelogic.html
➡U.S. Home Price Insights – https://www.corelogic.com/insights-download/home-price-index.aspx
Home values rise at fastest rate in two years, according to CoreLogic showing a 5.9% increase in home values year over year and a 1% increase in home values month over month as a nation.
Why are home prices continuing to rise? Currently inventory is down 17% from this time last year coupled with high buyer demand and low interest is what’s causing the perfect recipe for rising home values.
We saw the biggest increase in entry level homes with home values rising nearly 9% (8.6%) year over year. This is likely due to a large pool of millennials starting to come to market now that they are prime buying age.
Home Buying Videos You May Find Helpful:
➡Step by Step Process of Buying a House in 2020 – https://youtu.be/myJ1h0ykhts
➡Do I get my deposit back if I cancel escrow? – https://youtu.be/0RMy9iNTu54
➡What Stays when buying or selling a house? – https://youtu.be/XH6c9-omN24
➡Appraisal vs Home Inspection – https://youtu.be/cwjokWbr1Go
I hope you appreciate this update on the real estate market 2020 for the housing market 2020 california as well as this real estate market update from your local Huntington Beach Real Estate Realtor, Jeb Smith.
Please let me know your thoughts below: what are your predictions for the housing market 2020 forecast and the housing market 2020 california? After watching this video, do you believe you should be buying a home this year or if now is the best time to sell a house?
Do you believe a house market crash 2020 or real estate bubble will happen? If so, why? What are your thoughts on the Orange County real estate market and the potential real estate crash for orange county real estate?
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Jeb Smith (Huntington Beach Realtor/orange county real estate)
Coldwell Banker Realty
➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith
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