[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f3s85y56tlk4y7":3,"$f2emv3tus0uf1":43,"$fbwk2pqjjqsc7":47},{"item":4,"previous":31,"next":37},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":30},1831,"home-prices-what-happened-in-2020-what-will-happen-this-year","Home Prices: What Happened in 2020? What Will Happen This Year?","The real estate market was on fire during the second half of 2020. Buyer demand was way up, and the supply of homes available for sale hit record lows. The price of anything is determined by the supply and demand ratio, so home prices skyrocketed last year. Dr. Lynn Fisher, \u003Cem>Deputy Director\u003C\u002Fem> of the \u003Cem>Federal Housing Finance Agency\u003C\u002Fem> (FHFA) \u003Cem>Division of Research and Statistics\u003C\u002Fem>, \u003Ca href=\"https:\u002F\u002Fwww.fhfa.gov\u002FAboutUs\u002FReports\u002FPages\u002FUS-House-Price-Index-Report-2020-Q4.aspx\">explains\u003C\u002Fa>:","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F03\u002F01145756\u002F20210302-KCM-Share.jpg","The real estate market was on fire during the second half of 2020. Buyer demand was way up, and the supply of homes available for sale hit record lows. The price of anything is determined by the supply and demand ratio, so home prices skyrocketed last year. Dr. Lynn Fisher, \u003Cem>Deputy Director\u003C\u002Fem> of the \u003Cem>Federal Housing Finance Agency\u003C\u002Fem> (FHFA) \u003Cem>Division of Research and Statistics\u003C\u002Fem>, \u003Ca href=\"https:\u002F\u002Fwww.fhfa.gov\u002FAboutUs\u002FReports\u002FPages\u002FUS-House-Price-Index-Report-2020-Q4.aspx\">explains\u003C\u002Fa>:\u003C!--more-->\r\n\u003Cblockquote>\u003Cem>“House prices nationwide recorded the largest annual and quarterly increase in the history of the FHFA Home Price Index. Low mortgage rates, pent up demand from homebuyers, and a limited housing supply propelled every region of the country to experience faster growth in 2020 compared to a year ago despite the pandemic.” \u003C\u002Fem>\u003C\u002Fblockquote>\r\nHere are the year-end home price appreciation numbers from the FHFA and two other prominent pricing indexes:\r\n\u003Cul>\r\n \t\u003Cli>\u003Cem>Federal Housing Finance Agency\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.fhfa.gov\u002FAboutUs\u002FReports\u002FPages\u002FUS-House-Price-Index-Report-2020-Q4.aspx\">House Price Index Report\u003C\u002Fa>: 10.8%\u003C\u002Fli>\r\n \t\u003Cli>\u003Cem>CoreLogic\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Finsights-download\u002Fhome-price-index.aspx\">Home Price Insights\u003C\u002Fa>: 9.2%\u003C\u002Fli>\r\n \t\u003Cli>\u003Cem>S&P Case-Shiller\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.spglobal.com\u002Fspdji\u002Fen\u002Fdocuments\u002Findexnews\u002Fannouncements\u002F20210223-1321360\u002F1321360_cshomeprice-release-0223.pdf\">U.S. National Home Price Index\u003C\u002Fa>: 10.4%\u003C\u002Fli>\r\n\u003C\u002Ful>\r\nThe past year was truly a remarkable time for homeowners as prices appreciated substantially. Lawrence Yun, \u003Cem>Senior Economist\u003C\u002Fem> at the \u003Cem>National Association of Realtors \u003C\u002Fem>(NAR), \u003Ca href=\"https:\u002F\u002Fwww.thedenverchannel.com\u002Fnews\u002Fnational\u002Fsoaring-housing-prices-during-pandemic-may-point-to-split-economic-recovery\">reveals\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“A typical homeowner in 2020, just by being a homeowner, would have \u003Cstrong>accumulated around $24,000 in housing wealth\u003C\u002Fstrong>.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>What will happen with home prices this year?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nMany experts believe buyer demand will soften somewhat as mortgage rates are poised to \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F02\u002F23\u002Fthe-reason-mortgage-rates-are-projected-to-increase-and-what-it-means-for-you\u002F\">bump up\u003C\u002Fa> slightly. Some also believe the inventory challenge will ease as \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F02\u002F25\u002Fare-there-going-to-be-more-homes-to-buy-this-year\u002F\">more listings\u003C\u002Fa> come to market this year.\r\n\r\nBased on this, most forecasters anticipate we’ll see strong appreciation in 2021 – \u003Cem>but not as strong as last year\u003C\u002Fem>. Here are seven prominent groups and their projections:\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F03\u002F20210302-MEM-Eng-1.png\">\u003Cimg class=\"aligncenter wp-image-43943\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F03\u002F20210302-MEM-Eng-1.png\" alt=\"Home Prices: What Happened in 2020? What Will Happen This Year? | Simplifying The Market\" width=\"650\" height=\"366\" \u002F>\u003C\u002Fa>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nHome price appreciation will be strong this year, but it won’t reach the historic levels of 2020. Let’s connect if you’d like to find out what your house is currently worth in our local market.","\r\nHome price appreciation will be strong this year, but it won’t reach the historic levels of 2020. Let’s connect if you’d like to find out what your house is currently worth in our local market.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F03\u002F20210302-MEM-Eng-1.png",false,[17,21,25],{"id":18,"name":19,"slug":20},6,"For Sellers","sellers",{"id":22,"name":23,"slug":24},9,"Home Prices","home-prices",{"id":26,"name":27,"slug":28},38,"Move-Up","move-up","2021-03-02T10:00:45Z","2021-03-02T11:00:45Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},1830,"what-are-the-benefits-of-a-20-down-payment","What Are the Benefits of a 20% Down Payment?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F02\u002F26103505\u002F20210301-KCM-Share.jpg","2021-03-01T10:00:11Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},1832,"how-smart-is-it-to-buy-a-home-today","How Smart Is It to Buy a Home Today?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F03\u002F02132634\u002F20210303-KCM-Share.jpg","2021-03-03T10:00:07Z",{"cover":44,"open":45,"shareSpread":46},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Magazine-original.png",[48,52,56,57,61,65,66,70,74,78,79,83,87,91,95,99,103,107,111,115,119,123,127,131,135,139,143,147,151,155],{"id":49,"name":50,"slug":51},1,"Uncategorized","uncategorized",{"id":53,"name":54,"slug":55},5,"For Buyers","buyers",{"id":18,"name":19,"slug":20},{"id":58,"name":59,"slug":60},7,"Foreclosures","foreclosures",{"id":62,"name":63,"slug":64},8,"Infographics","infographics",{"id":22,"name":23,"slug":24},{"id":67,"name":68,"slug":69},11,"First-Time Buyers","first-time-buyers",{"id":71,"name":72,"slug":73},34,"Senior Market","senior-market",{"id":75,"name":76,"slug":77},35,"Mortgage Rates","mortgage-rates",{"id":26,"name":27,"slug":28},{"id":80,"name":81,"slug":82},41,"For Sale by Owner","for-sale-by-owner",{"id":84,"name":85,"slug":86},42,"Featured","featured",{"id":88,"name":89,"slug":90},45,"New Construction","new-construction",{"id":92,"name":93,"slug":94},52,"Luxury \u002F Vacation","luxury--vacation",{"id":96,"name":97,"slug":98},53,"Rent vs. Buy","rent-vs-buy",{"id":100,"name":101,"slug":102},80,"Time-sensitive","time-sensitive",{"id":104,"name":105,"slug":106},81,"Outdated","outdated",{"id":108,"name":109,"slug":110},147,"Internal","internal",{"id":112,"name":113,"slug":114},148,"Do Not Autopost","do-not-autopost",{"id":116,"name":117,"slug":118},320,"Inventory","inventory",{"id":120,"name":121,"slug":122},321,"Agent Value","agent-value",{"id":124,"name":125,"slug":126},322,"Affordability","affordability",{"id":128,"name":129,"slug":130},323,"Buying Tips","buying-tips",{"id":132,"name":133,"slug":134},324,"Downsize","downsize",{"id":136,"name":137,"slug":138},325,"Economy","economy",{"id":140,"name":141,"slug":142},326,"Equity","equity",{"id":144,"name":145,"slug":146},327,"Forecasts","forecasts",{"id":148,"name":149,"slug":150},328,"Selling Tips","selling-tips",{"id":152,"name":153,"slug":154},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":156,"name":157,"slug":158},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]