58% of Homeowners See a Drop in Home Values Coming

According to the recently released Modern Homebuyer Survey from ValueInsured, 58 percent of homeowners think there will be a “housing bubble and price correction” within the next 2 years.

After what transpired just ten years ago, we can understand the concern Americans have about the current increase in home prices. However, this market has very little in common with what happened last decade.

The two major causes of the housing crash were:

1. A vast oversupply of housing inventory caused by home builders building at a pace that far exceeded historical norms.
2. Lending standards that were so relaxed that unqualified buyers could easily obtain financing thus enabling them to purchase a home.

Today, housing inventory is at a 20-year low with new construction starts well below historic norms and financing a home is anything but simple in the current mortgage environment. The elements that precipitated the housing crash a decade ago do not exist in today’s real estate market.

The current increase in home prices is the result of a standard economic equation: when demand is high and supply is low, prices rise.

If you are one of the 58% of homeowners who are concerned about home values depreciating over the next two years and are hesitant to move up to the home of your dreams, take comfort in the latest Home Price Expectation Survey.

Once a quarter, a nationwide panel of over one hundred economists, real estate experts and investment & market strategists are surveyed and asked to project home values over the next five years. The experts predicted that houses would continue to appreciate through the balance of this year and in 2018, 2019, 2020 and 2021. They do expect lower levels of appreciation during these years than we have experienced over the last five years but do not call for a decrease in values (depreciation) in any of the years mentioned.

Bottom Line

If you currently own a home and are thinking of moving-up to the home your family dreams about, don’t let the fear of another housing bubble get in the way as this housing market in no way resembles the market of a decade ago.

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23028 E Firestone Drive Queen Creek, AZ 85142

$456,490

3 Beds

2 Baths

1,877 SqFt

Status Active

MLS # 6658434

Property Type Single Family Residence

Price Type --

This is a To-Be-Built home, build time is 6-7 months from contract. There is still time to add your own personal touch to this home with design options from our Design Studio. Home price will fluctuate based on design options selected. Ask sales associate about financing promotions and other quick move-in inventory. 3 bedroom, office and 2 bath split layout. This is an unstarted New Build Home in a brand-new community in Queen Creek. Home price reflects base price with original layout. Make this home truly your own with structural upgrades and design options from our Design Studio, adding your own personal touch. Home price will fluctuate based on structural and design options selected.

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389 S 163rd Lane Goodyear, AZ 85338

$456,000

4 Beds

2.5 Baths

2,305 SqFt

Status Active

MLS # 6629566

Property Type Single Family Residence

Price Type --

Nestled in Goodyear, this beautiful 4 bedroom, 2.5 bathroom home invites you to experience the epitome of comfort and style. The spacious living are bathed in natural light sets the stage for big family gatherings or entertaining friends. The four bedrooms provide comfort sanctuaries, each thoughtfully designed to create a sense of tranquility. The primary suite, with its ensuite bathroom, offers private escape for relaxation and rejuvenation. Plus, get ready for non-stop excitement with live events at the Goodyear Ballpark throughout the year, including Major League Baseball Spring Training games, making every season a memorable one. Seize this golden opportunity to call this exceptional home yours and live in the heart of all that Goodyear has to offer!

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30727 W Amelia Avenue Buckeye, AZ 85396

$456,000

5 Beds

3 Baths

2,597 SqFt

Status Active

MLS # 6672307

Property Type Single Family Residence

Price Type --

Welcome to this charming residence in Buckeye. This single-family home features 5 bedrooms and 3 bathrooms, offering a comfortable and inviting living space. The well-designed floor plan encompasses 2,558 square feet of living space, providing ample room for both relaxation and entertaining. The kitchen is equipped with gas stove making it a hub for culinary enthusiasts. This property boasts 20ft ceilings, custom backyard, adding to its appeal. The Splashed is just a short distance away, enhancing the overall lifestyle this location provides. Take advantage of this fantastic opportunity to own a residence in the thriving community of Buckeye

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19655 W Windsor Avenue Buckeye, AZ 85396

$455,995

4 Beds

3 Baths

2,070 SqFt

Status Active

MLS # 6642364

Property Type Single Family Residence

Price Type --

The thoughtfully designed Slate floor plan opens with two bedrooms and a full hall bath. Beyond the entry, you'll find an open layout with a dining nook, a great room with access to an inviting covered patio, and a kitchen with a center island, walk-in pantry and abundant cabinetry. The owner's suite is nearby, offering a generous walk-in closet and a private bath with dual sinks, a shower and a separate soaking tub. A laundry room and a fourth bedroom with its own private bath complete the home. Enjoy your 2 car garage with a side garage service door for easy access to your large backyard.

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