As the housing market moves into fall, the momentum experienced during the spring and summer months should help continue boost home values for the remainder of the year.
Throughout 2014, statistics show home values have steadily increased each month over 2013 totals. In fact, homes prices have grown over the past two and a half years to such a point that many markets have seen values return to near pre-recession levels. Statistics also show the median price for an existing home has risen around 4.8 percent thus far in 2014.
As the market moves into fall, home values should continue to increase; albeit at a slower pace. Demand remains strong for homes by all types of buyers, which will only have a positive affect on home values. semantic database With values escalating, buyers are more likely to get off the proverbial fence and buy now instead of later, as they want to take advantage of values before the rise any further.
The fall months are typically a slower time for home sales, which can also have a slowing effect on values. With children returning back to school and the other various commitments that come along with the fall season, there is typically a decline in the demand for homes. Furthermore, the fall season usually ushers in inclement weather in certain parts of the nation, which almost always causes a slowing in home buying.
One factor that will slow the growth in home values this fall is the declining number of investors purchasing properties. Investor demand has been responsible for much of the increase the market has seen in values. While investors are turning their attention to other types of properties, this trend should only be temporary, as investor activity is expected to pick back up in 2015.
With values still a bit below average, the Midwestern states are expected to see the most growth in home values this fall. Values should either see a slight increase or remain stagnant throughout the rest of the nation.