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Friday, December 5, 2014

Are Home Prices Really Falling?

We have seen this headline before.

“Broad-based Slowdown for Home Prices”

And though it is true, we must understand the story behind the headline. Case Shiller reports on the year-over-year difference in home values. Their latest report revealed that the rate of appreciation has slowed – not that prices are falling!! Here is exactly what they said:
“The 20-City Composite gained 4.9% year-over-year, compared to 5.6% in August.”
Prices are still up this month over last year’s values (4.9%) just not as much as they were last month (5.6%).

Home Prices are NOT Falling. Home Prices Continue to Rise!

As a matter of fact, the latest Home Price Expectation Survey by Pulsenomics (a survey of a nationwide panel of over one hundred economists, real estate experts and investment & market strategists) showed that home prices will continue to appreciate for the next several years.
Home Price Expectation Survey Projected Prices | Keeping Current Matters

Bottom Line

Both first time buyers and families thinking of moving-up to their dream home can be assured that their investment in their new home makes sense.

Source: Keeping Current Matters, KCM Crew, December 1, 2014, First Time Home Buyers, For Buyers, Move-Up Buyers

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