Veros Real Estate Solutions, Santa Ana, Calif., said average projected appreciation rate for residential real estate in the nation’s 100 largest markets should hold steady at 3.7 percent through June 2020, maintaining the same rate from the previous quarter’s forecast and marking a leveling out after a four-quarter decline from a projected appreciation rate of 4.5 percent a year ago.
The VeroFORECAST said 5 percent of markets are projected to depreciate over the upcoming year, a figure that has remained the same since fourth quarter 2018, after it jumped from 3 percent in a single quarter.
“This flattening indicates that although there is definite softness overall in the housing market the fundamentals are healthy,” said Eric Fox, Veros Vice President of Statistical and Economic Modeling. “One potential contributing factor we saw in the models is some softening of mortgage interest rates, which is helping to prop up values and stem the decline.”
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