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How Home Price Gains Will Play Out

IRVINE, CA—Markets with lower affordability are less likely to see big increases in both sales volume and prices, but strong markets with a lot of affordability headroom should see solid gains, RealtyTrac’s Daren Blomquist tells GlobeSt.com EXCLUSIVELY.

Blomquist: “In 2016, I would expect home-price appreciation to go below 5%. If we don’t see that moderation, it will be a red flag of a market at risk of becoming overheated.” Blomquist: “In 2016, I would expect home-price appreciation to go below 5%. If we don’t see that moderation, it will be a red flag of a market at risk of becoming overheated.”

IRVINE, CA—Housing markets with lower affordability are less likely to see big increases in both sales volume and prices, but strong markets with a lot of affordability headroom should see solid gains, RealtyTrac’s VP Daren Blomquist tells GlobeSt.com. According to the firm’s year-end 2015 home-sales report, US home sellers in 2015 realized an average price gain since purchase of 11%, the biggest average price gain for this cohort since 2007 and an eight-year high. We spoke exclusively with Blomquist about home prices and affordability in the coming years.

GlobeSt.com: 2015 saw the biggest home price gains since before the recession, yet affordability is still low in many markets. Do you see price gains continuing this year at 2015’s pace?

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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