However, with an expected growth in unemployment, CoreLogic expects growth to slow down drastically by July 2021.
Over the past several months, real estate has seen suburban, and suburban-like, markets heat up as prospective homeowners seek larger spaces and cheaper prices. Paired with historically low mortgage rates and low inventory, that has made buying a home more competitive than ever in some places. , called Home Price Insights, found that national home prices in July saw a 5.5% year-over-year increase, the fastest growth rate since August 2018.
CoreLogic named five metro areas most likely to see a decline in home prices over the next year: Las Vegas, Nevada; Prescott, Arizona; Lake Charles, Louisiana; Miami, Florida; and Huntington, West Virginia.
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