Compared to what we have been seeing the forecast is far from optimal… Or is it? A 2% rise in home prices is not very much, but it’s still positive. We all knew the upward price trend couldn’t go on forever. In my current market we were seeing an average of 10% rise each year for at least the past 3 years. Some areas saw it jump by almost 50% in 2 years! We were bound to hit a ceiling and slow down to allow consumers to still be able to afford housing. It has been getting harder and harder for first time home buyers to enter the market place. This along with continuous rises in property taxes was starting to beat people down. I’m happy to see we might be entering a “healthy” real estate market. What do you think?
Read the Original Article Here: REALTORS® Expect Home Prices to Rise 2% Over the Next 12 Months