Home Prices Drop While Year Over Year Projection Remains Positive

Home Prices Drop While Year Over Year Projection Remains Positive

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For the rst time in almost seven years housing prices fell in Southern California according to CoreLogic, the California based corporationthat provides nancial, property and consumer information and analyticsfor businesses and government. According to the organization’s assessment, prices dropped anaverage of $500 in March. In its report, CoreLogic blamed the price dip on a decline in sales at the high-end of the market, claiming this tended to skew the data downward. Despite the downward slip and a continuing sluggish housing market, CoreLogic was also somewhat optimistic noting home prices may continue to rise but admitting it may be at a much slower pace than before. The report may not be breaking news for those who currently have their houses on the market, as their home prices have declined in alignment with the slowing market. This has pushed sellers to lower their prices. For example, in the inland region during the month of March, 15.9 percent of sellers were forced to reduce their asking prices in order to sell. On Friday, CoreLogic also reinforced positive news for 2019, home prices will appreciate by 4.8 percent nationwide, with California counted among the states expected to have the highest level of appreciation.

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