Home Prices Gains Are on the Rise Again, as Millennials Finally Start Buying
September 5, 2019
Home price gains have been sluggish for the past year, but this summer, they are heating up again. Prices were up 3.6 percent in July over the same month last year, according to CoreLogic. This is up from a 3.4 percent increase in June, and CoreLogic expects the trend to continue, predicting price gains will reach 5.4 percent by July 2020.
Much of the increase is being attributed to millennials finally deciding they want to buy. More than 25 percent of the nation’s largest generation said they are looking to purchase a home in the next 12 months, according to a CoreLogic survey. With this many new buyers, and inventory already historically low, prices are expected to see big gains.