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KAYE SWAINKAYE SWAIN

Kaye Swain Roseville REALTOR - Specializing in Over 55 Communities in Roseville CA Area

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Will Home Values Appreciate or Depreciate in 2020?

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Kaye Swain Roseville REALTOR sharing - Will Home Values Appreciate or Depreciate in 2020?

With the housing market staggered to some degree by the health crisis our country is currently facing, some potential purchasers are questioning whether home values will be impacted. The price of any item is determined by supply as well as the market’s demand for that item.

Each month the National Association of Realtors (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for the REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand) during this pandemic.

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”Kaye Swain Roseville Real Estate Agent sharing Buyer Traffic Index MapThe darker the blue, the stronger the demand for homes is in that area. The survey shows that in 34 of the 50 U.S. states, buyer demand is now ‘strong’ and 16 of the 50 states have a ‘stable’ demand.

Seller Supply

The index also asks: “How would you rate seller traffic in your area?”Roseville REALTOR Kaye Swain sharing Seller Traffic Index MapAs the map above indicates, 46 states and Washington, D.C. reported ‘weak’ seller traffic, 3 states reported ‘stable’ seller traffic, and 1 state reported ‘strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the needs of buyers looking for homes right now.

With demand still stronger than supply, home values should not depreciate.

And boy! When it comes to Roseville CA, the Roseville buyer traffic index map is a bit light! At least, up til March 15. Once the quarantine hit, it has slowed down. BUT things are opening up and people are getting interested again.

And for our Roseville area in regards to the seller traffic index, that is right on the mark. We really don't have enough homes to give our buyers a good selection in the areas they are interested in.

What are the experts saying?

Here are the thoughts of three industry experts on the subject:

Ivy Zelman:

“We note that inventory as a percent of households sits at the lowest level ever, something we believe will limit the overall degree of home price pressure through the year.”

Mark Fleming, Chief Economist, First American:

“Housing supply remains at historically low levels, so house price growth is likely to slow, but it’s not likely to go negative.”

Freddie Mac:

“Two forces prevent a collapse in house prices. First, as we indicated in our earlier research report, U.S. housing markets face a large supply deficit. Second, population growth and pent up household formations provide a tailwind to housing demand.”

Bottom Line

Looking at these maps and listening to the experts, it seems that prices will remain stable throughout 2020. If you’re thinking about listing your Roseville home, let’s connect to discuss how you can capitalize on the somewhat surprising demand in the market now.

Contents of this article...

    • Buyer Demand
    • Seller Supply
  • Bottom Line

Posted in: Real Estate Info Tagged: Corona Virus, real estate, Real Estate Market, Real Estate Market Update, real estate news

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Kaye Swain Roseville Real Estate Agent, 916-768-0127, KayeSwainRE@gmail.com, CalBRE#01966207, with Keller Williams Realty, 548 Gibson Drive, Suite 200, Roseville CA 95678, (Each office is independently owned and operated)

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