{"id":3371,"date":"2020-10-27T08:32:19","date_gmt":"2020-10-27T15:32:19","guid":{"rendered":"http:\/\/skyrisere.com\/listings\/?p=3371"},"modified":"2020-10-27T08:32:19","modified_gmt":"2020-10-27T15:32:19","slug":"where-are-home-values-headed-over-the-next-12-months","status":"publish","type":"post","link":"https:\/\/skyrisere.com\/listings\/2020\/10\/27\/where-are-home-values-headed-over-the-next-12-months\/","title":{"rendered":"Where Are Home Values Headed Over the Next 12 Months?"},"content":{"rendered":"<p>As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt? Even worse, would home values begin to depreciate?<\/p>\n<p>Original forecasts modeled this uncertainty, and they ranged anywhere from home values gaining 3% (Zelman &#038; Associates) to home values depreciating by more than 6% (CoreLogic).<\/p>\n<p>However, as the year unfolded, it became clear that there would be little negative impact on the housing market. As Mark Fleming, Chief Economist at First American, recently  <a href=\"https:\/\/blog.firstam.com\/economics\/housing-market-potential-reaches-highest-level-since-2007\">revealed<\/a> :<\/p>\n<blockquote>\n<p>\u201cThe only major industry to display immunity to the economic impacts of the coronavirus is the housing market.\u201d<\/p>\n<\/blockquote>\n<h3 id=\"Have prices continued to appreciate so far this year?\">Have prices continued to appreciate so far this year?<\/h3>\n<p>Last week, the Federal Housing Finance Agency (FHFA) released its latest  <a href=\"https:\/\/www.fhfa.gov\/Media\/PublicAffairs\/Pages\/FHFA-House-Price-Index-Up-1pt0-Pct-in-July-Up-6pt5-Pct-from-Last-Year.aspx\">Home Price Index<\/a> . The report showed home prices actually rose 6.5% from the same time last year. FHFA also noted that price appreciation accelerated to record levels over the summer months:<\/p>\n<blockquote>\n<p>\u201cBetween May &#038; July 2020, national prices increased by over 2%, which represents the largest two-month price increase observed since the start of the index in 1991.\u201d<\/p>\n<\/blockquote>\n<h3 id=\"What are the experts forecasting for home prices going forward?\">What are the experts forecasting for home prices going forward?<\/h3>\n<p>Below is a graph of home price projections for the next year. Since the market has changed dramatically over the last few months, this graph shows forecasts that have been published since September 1st.<\/p>\n<p><a href=\"https:\/\/skyrisere.com\/listings\/wp-content\/uploads\/2020\/10\/3DEDBFCA-7226-4DF6-9E66-FBD1AF21CC86.jpeg\"><img fetchpriority=\"high\" decoding=\"async\" data-id=\"3372\"  src=\"https:\/\/skyrisere.com\/listings\/wp-content\/uploads\/2020\/10\/3DEDBFCA-7226-4DF6-9E66-FBD1AF21CC86.jpeg\" alt=\"Home Price Projection\" width=\"1000\" height=\"750\" class=\"aligncenter size-full wp-image-3372\" srcset=\"https:\/\/skyrisere.com\/listings\/wp-content\/uploads\/2020\/10\/3DEDBFCA-7226-4DF6-9E66-FBD1AF21CC86.jpeg 1000w, https:\/\/skyrisere.com\/listings\/wp-content\/uploads\/2020\/10\/3DEDBFCA-7226-4DF6-9E66-FBD1AF21CC86-300x225.jpeg 300w, https:\/\/skyrisere.com\/listings\/wp-content\/uploads\/2020\/10\/3DEDBFCA-7226-4DF6-9E66-FBD1AF21CC86-768x576.jpeg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<h2 id=\"Bottom Line\">Bottom Line<\/h2>\n<p>The numbers show that home values have weathered the storm of the pandemic. If you want to know what your home is currently worth and how that may enable you to make a move this year, contact Skyrise Real Estate Group or start here: <a href=\"https:\/\/www.skyrisesv.com\/cma\/property-valuation\/\">Free Home Valuation<\/a><\/p>\n ","protected":false},"excerpt":{"rendered":"<p>As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt? Even worse, would home values begin to depreciate? [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"0","ocean_second_sidebar":"0","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"0","ocean_custom_header_template":"0","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"0","ocean_menu_typo_font_family":"0","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"0","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","entry","has-media"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Where Are Home Values Headed Over the Next 12 Months? - Skyrise Real Estate Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/skyrisere.com\/listings\/2020\/10\/27\/where-are-home-values-headed-over-the-next-12-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Where Are Home Values Headed Over the Next 12 Months? - Skyrise Real Estate Group\" \/>\n<meta property=\"og:description\" content=\"As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. 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Specifically, there was concern about home values. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt? Even worse, would home values begin to depreciate? 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