The housing market is looking promising for many areas, as CoreLogic recently released a report predicting an increase in housing prices across 11 states by October of 2023. This report was based on data analysis of July housing prices, which had declined for all 11 states.
Though some markets have been slower to recover than others, it is estimated that these states will begin to show indications of price improvements in the near future. These markets likely will have to contend with declines in rental prices until such time as housing prices rebound, as renters tend to resist brand new higher rental prices.
Overall, this report shows that the housing market is improving in many areas, and those who choose to purchase a home at this time could still benefit from potentially good deals.
Key Points:
• 11 states expected to gain by October
• July housing prices had declined for all 11 states
• Markets slower to recover than others
• Rental prices will likely decline until housing prices rebound
• those who choose to purchase a home at this time may still benefit from potential good deals
You can read this full article at: https://www.housingwire.com/articles/prices-finally-set-to-climb-again-in-the-west-corelogic/(subscription required)
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