New Report: Update on Home Prices in the US

New Report: Update on Home Prices in the US // How have US home prices been affected by this pandemic? Is the market going to crash? In this video, I share a brand new report from Corelogic that breaks down home prices in September 2020.

On this channel, I also share real estate market news, real estate market trends, updates on mortgage loan forbearance and information regarding the California housing market and the Sacramento real estate market from a Sacramento Realtor and CPA. I typically don’t make too many real estate market predictions in this video but I hope you appreciate the transparency about real estate 2020 trends so you can make your own informed housing market forecast 2021 to determine if the market will reach new highs or if there will be a housing crash 2021.

According to their Home Price Index (HPI), national home prices increased 6.7% year over year in September. This is the highest year-over-year gain since May 2014. Corelogic also reported that housing inventory is at its lowest level within the last 38 years. In fact, according to the National Association of Realtors (NAR), the national median home price increased 14.8% from Sept 2019 yet inventory is down 19.2% compared to a year ago. Corelogic predicts that the HPI will only increase 0.2% year over year by September 2021.

In addition, the state that had the highest increase to the HPI in September was Idaho (+11.8%). In contrast, New York (+1.5%) had the lowest rate in the nation. No states posted an annual decline in home prices. Phoenix lead the way with the highest HPI at 11.1% year over year. In contrast, “In markets like Las Vegas, where the local tourism economy and job market continue to struggle, home prices are expected to decline 5.6% by September 2021.”

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Videos like these tend to take hours to make due to all the research about the real estate market 2020 so I hope you appreciate this housing market 2020 forecast as well as this California housing market report from a licensed CPA (#103885) and Sacramento real estate agent (DRE #01923240).

Comment below: do you think there will be a housing market crash 2021, real estate bubble or will real estate continue to accelerate due to low inventory and low interest rates? Or do you think a housing crash won’t happen?

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Jason Walter, CPA (lic #103885)
Sacramento Realtor/Sacramento real estate agent and native
Realty ONE Group Complete (DRE #01923240)
jason@meetjasonwalter.com
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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.

This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed Realtor with Realty One Group in California under DRE #01923240.

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