{"id":1209,"date":"2020-10-22T16:00:27","date_gmt":"2020-10-22T16:00:27","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=1209"},"modified":"2020-10-22T16:00:27","modified_gmt":"2020-10-22T16:00:27","slug":"home-values-projected-keep-rising","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/home-values-projected-keep-rising\/","title":{"rendered":"Home Values Projected to Keep Rising"},"content":{"rendered":"
\"\"

Home Values Projected to Keep Rising<\/p><\/div>\n

As we enter the final months of 2020 and continue to work through the challenges this year has brought, some of us wonder what impact continued economic uncertainty could have on home prices. Looking at the big picture, the rules of supply and demand will give us the clearest idea of what is to come.<\/p>\n

Due to the\u00a0undersupply<\/a>\u00a0of homes on the market today, there\u2019s upward pressure on prices. Consider simple economics: when there is high demand for an item and a low supply of it, consumers are willing to pay more for that item. That\u2019s what\u2019s happening in today\u2019s real estate market. The housing supply shortage is also resulting in\u00a0bidding wars<\/a>, which will also drive price points higher in the home sale process.<\/p>\n

There\u2019s no evidence that buyer\u00a0demand<\/a>\u00a0will wane. As a result, experts project price appreciation will continue over the next twelve months. Here\u2019s a graph of the major forecasts released in the last 60 days:<\/p>\n

\"\"

Home Price Appreciation<\/p><\/div>\n

\n
\n
\n

I hear many foreclosures might be coming to the market soon. Won\u2019t that drive prices down?<\/strong><\/h4>\n

Some are concerned that homeowners who entered a mortgage forbearance plan might face foreclosure once their plan ends. However, when you analyze the data on those in\u00a0forbearance<\/a>, it\u2019s clear the actual level of risk is quite low.<\/p>\n

Ivy Zelman,\u00a0CEO<\/em>\u00a0of\u00a0Zelman & Associates<\/em>\u00a0and a highly-regarded expert in housing and housing-related industries, was very firm in a\u00a0podcast<\/a>\u00a0last week:<\/p>\n

\u201cThe likelihood of us having a foreclosure crisis again is about zero percent.\u201d<\/em><\/p><\/blockquote>\n

With demand high, supply low, and little risk of a foreclosure crisis,\u00a0home prices will continue to appreciate<\/strong>.<\/p>\n

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

Originally, many thought home prices would depreciate in 2020 due to the economic slowdown from the coronavirus. Instead, prices appreciated substantially. Over the next year, we will likely see home values rise even higher given the continued lack of inventory of homes for sale.<\/p>\n<\/div>\n<\/div>\n<\/article>\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":"

The rules of supply and demand will give us the clearest idea of what is to come. Finish Reading Home Values Projected to Keep Rising<\/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":[10,18,25,9,49,42,20,12,24,48,68,13,47,19,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1209"}],"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=1209"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1209\/revisions"}],"predecessor-version":[{"id":1212,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1209\/revisions\/1212"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}