{"id":1145,"date":"2020-09-29T15:31:21","date_gmt":"2020-09-29T15:31:21","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=1145"},"modified":"2020-09-29T15:31:21","modified_gmt":"2020-09-29T15:31:21","slug":"home-values-headed-next-12-months","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/home-values-headed-next-12-months\/","title":{"rendered":"Where Are Home Values Headed Over the Next 12 Months?"},"content":{"rendered":"
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Where Are Home Values Headed Over the Next 12 Months?<\/p><\/div>\n

As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt? Even worse, would home values begin to\u00a0depreciate<\/em>?<\/p>\n

Original forecasts modeled this uncertainty, and they ranged anywhere from home values gaining 3% (Zelman & Associates<\/em>) to home values depreciating by more than 6% (CoreLogic<\/em>).<\/p>\n

However, as the year unfolded, it became clear that there would be little negative impact on the housing market. As Mark Fleming,\u00a0Chief Economist<\/em>\u00a0at\u00a0First American<\/em>, recently\u00a0revealed<\/a>:<\/p>\n

\u201cThe only major industry to display immunity to the economic impacts of the coronavirus is the housing market.\u201d<\/em><\/p><\/blockquote>\n

Have prices continued to appreciate so far this year?<\/strong><\/h4>\n

Last week, the\u00a0Federal Housing Finance Agency<\/em>\u00a0(FHFA) released its latest\u00a0Home Price Index<\/em><\/a>. The report showed\u00a0home prices actually rose 6.5%<\/strong>\u00a0from the same time last year. FHFA also noted that price appreciation accelerated to record levels over the summer months:<\/p>\n

\u201cBetween May & July 2020, national prices increased by over 2%, which represents the\u00a0largest two-month price increase<\/strong>\u00a0observed since the start of the index in 1991.\u201d<\/em><\/p><\/blockquote>\n

What are the experts forecasting for home prices going forward?<\/strong><\/h4>\n

Below is a graph of home price projections for the next year. Since the market has changed dramatically over the last few months, this graph shows forecasts that have been published since September 1st<\/sup>.<\/p>\n

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Projections on Home Prices Over the Next 12 Months<\/p><\/div>\n

Bottom Line<\/strong><\/h3>\n

The numbers show that home values have weathered the storm of the pandemic. Let\u2019s connect if you want to know what your home is currently worth and how that may enable you to make a move this year.<\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
\nFacebook<\/a>
\nLinkedin<\/a>
\nTwitter<\/a>
\nInstagram<\/a><\/p>\n

THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt? Finish Reading Where Are Home Values Headed Over the Next 12 Months?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[18,27,158,138,52,9,49,42,23,40,63,20,12,48,47,19,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1145"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1145"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1145\/revisions"}],"predecessor-version":[{"id":1148,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1145\/revisions\/1148"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}