Catherine Rogers Realty

Fort Collins Home Real Estate Specialists. Find new houses, new homes and construction, and Old Town Fort Collins properties.

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CRS, MCSP & CNE Broker Associate Residential Specialist


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Homes Appreciate at Fastest Rate Since 2014

December 14, 2020 By Catherine Rogers

Home prices typically decline when economic activity constricts—but not in 2020.

 

The economic downturn resulting from the COVID-19 pandemic has coincided with a booming housing market. Existing-home prices for all housing types jumped 15.5% year over year in October to $313,000, according to the National Association of REALTORS®.

Home prices at all market levels are accelerating at the fastest rates in the past six years. The lowest price tier saw an increase of 10.9% year over year in October compared to 9% for the low- to middle-price tier, 8.5% for the middle- to moderate-price tier, and 7.4% for the high price tier, according to CoreLogic data.

All states showed annual price increases, but Maine led the 50 states with a 14.9% hike in appreciation. Idaho (13.1%) and Arizona (12%) followed. New York saw some of the lowest annual increases in October, but prices there were still up 2.6% year over year. On a metro level, the following large cities saw some of the highest price gains in October annually:

 

Source:

“Annual U.S. Home Price Appreciation in October Fastest Since April 2014,” CoreLogic Insights Blog (Dec. 1, 2020)

National Association of Realtors

December 9, 2020

Filed Under: Lifestyle, Live NoCo Blog, Real Estate Tagged With: #c3realestatesolutions, #CatherineRogersRealEstate, #catherinerogersrealty, #coloradohomesforsale, #FOCOHomes, #Focoliving, #fortcollinsrealestate, #NOCOHomes, #NOCOLiving, #RogersRealty, northern colorado real estate


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