Home-price growth may finally ease as mortgage rates rise!
Depending on what news source you are reading, the numbers vary on how much homes appreciated in 2021!
S&P Corelogic Case-Swiller price index posted 18.3% year-over-year gains in November.
While the Federal Housing and Finance Agency released its own house price index which indicated that prices rose 17.5% in November.
Because the primary factor behind the fast pace of home-price appreciation over the past 24 months was a result of limited home inventory, that isn’t projected to change anytime soon.
So long as mortgage rates don’t price out too many buyers, demand for the few homes that are on the market will stay strong which as a result will continue to push home prices higher.
As a seller, this places you in an excellent position to still maximize profits.
As a buyer, the motivation should be heightened to catch the market before rates hit 4%.
What do you think will happen to home prices? Will they boom or bust? Let me know in the comments below!
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