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Housing Price Appreciation Expected to Hit 7%

Despite a weak first quarter, home prices are still expected to rise by 7% in 2014, according to Wall Street analysts. “We continue to expect home price appreciation to moderate from the torrid pace of mid-2012-13, supported by improving employment and growth prospects,” said analysts from Morgan Stanley (MS). “We leave our 2014 projections for new home sales (450-500 thousand units) and home prices (up 5-7% for the year) unchanged.” Read more.

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Buyers Find More Housing Options This Spring

The number of homes for sale is on the rise, a long-awaited welcome to home buyers who are finding more selection than last spring and less competition, according to realtor.com®’s National Housing Trend Report for March of the 146 markets it tracks. Inventories of for-sale homes on realtor.com® in March increased 9.5 percent higher than year ago levels, according to the report. The median list price is $199,900 – 5.3 percent higher than in March 2013. The median age of inventory has also risen – 22.9 percent above year ago figures to a median of 102 days on the market. Read more.

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