According to a leading real estate data and analytics company, CoreLogic, home prices will increase in most markets by 5.4% by July, 2020, outpacing price appreciation in 2019. Two factors are driving this increase; low mortgage rates and inventories.
Frank Nothaft, the chief economist at CoreLogic noted, “With the for-sale inventory remaining low in many markets, the pickup in buying has nudged price growth up. If low interest rates and raising income continue, then we expect home-price growth will strengthen over the coming year”.