Home Prices Are Projected To Increase In December 2019
Home prices in December 2018 made a 4.7% jump from December 2017 and CoreLogic believes that we could very well be in for yet another increase in 2019.
"According to the CoreLogic’s data, home prices only increased 0.1% from the previous month and are now projected to increase by 4.6% come December 2019," according to HousingWire.
"The CoreLogic HPI projects future home price growth based on several economic variables and measures the number of owner-occupied households in each state."
CoreLogic's Chief Economist Frank Nothaft attributes much of last year's dip in home price growth due to increased mortgage rates. The second half of 2018 felt the heaviest impact.
"Despite the weakening of the housing market in 2018, early 2019 data signals a possible turnaround for the year to come," said Freddie Mac Chief Economist Sam Khater, according to the HW report.
"This recent uptick in activity proves that homebuyers are very sensitive to changing interest rates and will likely respond positively if mortgage rates remain below 5%."
With analysts already making positive predictions for the end of 2019, this year is shaping up to be a relief from 2018. To learn more about home price predictions for December 2019, click on the image above.