Fewer Homes Will Gain Value in 2016: Weiss Analytics
The recovery in the housing market will slow dramatically over the next 10 months, according to Weiss Analytics.
The number of homes nationwide that will gain value on a monthly basis will fall by 12% over the next 10 months, Weiss said. About half of U.S. homes will continue to appreciate by October.
There has been three years of double-digit annual price increases, but the pace of change in home values is slowing, said Allen Weiss, chief executive of Weiss Analytics.
"This retrenchment may delay the return to price parity in some markets but in others it will help to prevent the formation of bubbles of overvalued properties that could result in defaults," Weiss said.
Since July 2014, the percentage of appreciating homes has fallen from 65.2% to 58.4% in October 2014.