Fortunately, there is ample data available that can help us predict the likely appreciation rates of different markets.
According to a recent survey conducted by Realtor.com, the U.S. housing market is projected to appreciate by 5% in 2020. Furthermore, the survey revealed that certain states and cities within the United States are expected to experience higher appreciation than the national average. Specifically, these areas include Colorado Springs and Denver, both of which are expected to appreciate by 6.8%. Additionally, Fort Collins, Colorado is expected to experience the largest growth in home values in the country, with an estimated 9.5% appreciation rate in 2020!
The survey also revealed that some areas are expected to experience less than average growth in home values, namely Long Island, New York and Honolulu, Hawaii, both of which are projected to experience an appreciation rate of only 1.2%. Similarly, San Jose, California and Sacramento, California are both only expected to appreciate by 1.4%.
Overall, it is evident from the survey that certain areas in the United States are expected to experience higher than average appreciation rates in 2020. Colorado Springs, Denver, Fort Collins, and other Colorado cities are all expected to perform well in terms of home value appreciation. On the other hand, other areas like Long Island, New York and Honolulu, Hawaii are expected to experience modest growth in home values.
In summary, the survey conducted by Realtor.com suggests that certain areas in the United States, such as Colorado Springs, Denver, and Fort Collins, are expected to experience higher-than-average rates of home value appreciation in 2020. Conversely, other areas such as Long Island, New York and Honolulu, Hawaii, are expected to experience more modest appreciation. Ultimately, the survey provides valuable insight into the areas where homeowners could potentially benefit from the highest appreciation of their properties in 2020.
This article was contributed on Nov 09, 2023