March 7th, 2019
As reported by CoreLogic’s January Home Price Index (HPI) and HPI Forecast, home prices are still rising, but at a decreasing rate. January saw a 4.4% year-over-year increase, and a 0.1% month-over-month increase in home prices. That year-over-year percentage is the lowest seen since August of 2012, meaning home price growth has been cooling going through the beginning of this year. However, the CoreLogic Forecast expects 2019 to see an annual average home price increase of 3.4% above 2018’s average. With rates remaining low going into the spring season, the housing market is expected to heat up a boost the rise in home prices throughout the rest of the year.
Loan officers need to bring their A-game going into the spring market. That means having a fine-tuned selling system, a client follow-up system, an updated/relevant marketing campaign, and a strong realtor/referral network.