How a 16-Month Real Estate Battle Changed the Way Washington Homes Come to MarketInside the new NWMLS First Look option and what it means for buyers and sellersBy Sean JeffreyRE/MAX Whatcom
Time to get off the fence?
Dated: June 14 2024
Views: 176
Time to get off the fence?
Even with inflation & higher interest rates home prices have held this past year and homes continue to sell (and we still are seeing multiple offers)
Inventory remains hovering at 2+- months, and hence, if and when we see rates drop to hopefully a balanced 5-6%, we could be off and running again, especially with the number of buyers that are on the sidelines waiting for just that…Could look like the wild west....
Don't believe me...Let's see what CoreLogic says...
Price Index showed that home prices nationwide rose 1.1% in April after rising 1.2% in March, showing that home price appreciation remains strong this spring. Prices are also 5.3% higher when compared to April of last year. CoreLogic forecasts that home prices will rise 0.8% in May and 3.4% in the year going forward, though their forecasts are typically on the conservative side so it’s possible appreciation will be even higher.
ICE (formally known as Black Knight) also reported that national home values rose 0.3% in April after seasonal adjustment, with their index showing that prices are 5.1% higher than a year ago.
What’s the bottom line? The latest rise in home prices reported by CoreLogic and ICE echoes the strong growth seen by other major indices like Case-Shiller and the Federal Housing Finance Agency. These reports continue to demonstrate why homeownership remains a good opportunity for building wealth through real estate.
Sean Jeffrey
I graduated from the University of Washington in 1993 with a Bachelor of Arts degree in Communications/Public Relations. Soon after college, I moved to Eugene, Oregon, where I supervised stadium and t....
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