Home prices are said to soar this New Year! According to reports, sales prices already jumped up 7 percent in November. The low supply and high demand could be the fueling cause of these price jumps.
“Rising home prices are good news for home sellers, but add to the challenges that home buyers face,” said Frank Nothaft. In the nation’s top 50 markets, half of the housing stock is now considered overvalued. Without significant jumps in home construction, prices will most likely remain high and possibly move higher.
Olick, Diana. “Home prices are set to soar in 2018.” CNBC, CNBC, 2 Jan. 2018, www.cnbc.com/2018/01/02/home-prices-are-set-to-soar-in-2018.html.