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2021 Could See First Decline in Home Prices in 9 Years

Friday, July 10, 2020   /   by Erik Bjorklund

2021 Could See First Decline in Home Prices in 9 Years

Did the housing happy talk just get
a little less so? CoreLogic's Housing Price Index
Forecast (HPI) over the May 2020 to May 2021 window is seeing more rapid price
deceleration in the face of the COVID-19 situation than did their previous 12-month
forecast t
hat ended in April of next year. In its report last month CoreLogic said
it expected that "the housing market may be equipped
to lead the broader economy through the recovery" but that home prices
increases would slow and that the gain from April to May would be only 0.3
percent. They went on to predict that 2021 would bring the first decline in
nine years, and by April 2021 the national price gain would turn negative, down
1.3 percent.


 

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