Home Prices JUST Went UP 11% Nationally (Annualized): Real Estate Values Soaring

Home prices went up in March according to the Zillow home price index. The value of home in March was .9% higher than in February which is an 11% increase on an annual basis. This is the second month in a row national home prices have gone up across the US. Only one of the top 50 markets in the US had a price decline and it was only .1%. Even San Francisco has a price increase of 1.3% which is a 15% annualized price increase. It is likely that home prices will rise for a few more months and then stall out in the summer and decline in the fall as they always do. The inventory level of homes in the US is low and not projected to increase until interest rates drop. The home buying frenzy has pushed home prices up long term and it is likely home prices will never be the same again.
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