Home Prices Increase Year-Over-Year Despite Expected Monthly March Sales Decline Due to Impact of COVID-19
While sales have declined, home prices are still solidly strong. The median existing-home price for all housing types in March was $280,600, up 8.0% from March 2019.
With all of the volatility in the stock market and uncertainty about the Coronavirus (COVID-19), some are concerned we may be headed for another housing crash like the one we experienced from 2006-2008.
2020 Forecast Shows Continued Home Price Appreciation. The latest forecast from CoreLogic shows continued appreciation at 5.4% over the next year:
It’s an interesting time in the market. Buyers are hoping prices continue to come down and homeowners are rushing to get their home on the market.