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Home Prices are Projected to Grow in 2018

Home price growth isn't stopping anytime soon, according to recent reports. Though, the overall pace of growth looks to be slower than years past.

A new CoreLogic report projected home values to rise 4.3% by the end of 2018. That projection would put the growth rate at 2.3% behind last years growth percentage. Experts believe the number of houses on the market may have something to do with that projection.

"The number of homes for sale has remained very low," Frank Nothaft, chief economist for CoreLogic, said in a press release, according to National Mortgage News.

"Job growth lowered the unemployment rate to 4.1% by year's end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices."

Meanwhile, in CoreLogic's Hot Markets breakdown, they revealed that 28% of homes were undervalued and 35% being overvalued.

To learn more about CoreLogic's home prices projections for 20180, click on the image above.

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