Rapid Price Appreciation May Soon Curb

CoreLogic:

After a 10.2 percent rise in home prices in the first quarter of 2013, expect price appreciation to decelerate in 2014, according to economists with CoreLogic.

CoreLogic predicts that rising home prices and mortgage interest rates, as well as a more balanced inventory of homes for-sale, will cause home prices to even out more next year.

However, the price rise isn’t over yet. “Record levels of affordability, a slowly improving job market, and very small inventories of new and existing homes for sale will continue to drive U.S. home price appreciation during the summer,” says David Stiff, chief economist for CoreLogic Case-Shiller.

Source: Rapid Price Appreciation May Soon Curb | Realtor Magazine.

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