Articles by Eric Fox

[Pulse] Here's what New York real estate will look like in the year ahead

Nation's largest real estate market expected to be flat in 2020
With an estimated population more than 20 million, the New York-Northern New Jersey-Long Island Metropolitan Statistical Area is by far the nation's largest metro – nearly 50% larger than the runner-up. That also means that this metro, home to one in 16 Americans, is the nation's largest real estate market. So, what's happening in this market is perhaps a snapshot of things to come for the rest of the nation’s major markets. Sadly, it doesn't look great.
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[Pulse] This state has more depreciating housing markets than any other

Unemployment drives down home prices in this Southern state
In most parts of the country, home prices are appreciating, albeit at a slower pace than before. But in 5% of metros, prices will depreciate up to 1.9% in the coming year. Here is a list of the bottom 10 MSAs, or those with home prices that will depreciate the most in the next 12 months.
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[Pulse] These 10 markets will see the most home-price growth in the next year

Only 1 major market makes the list
Ten markets will see residential property values rise an average of 7.85% in the next year – more than twice the 3.7% rate projected for the rest of the country. But while this might sound great, the average growth of the top 10 is a half-percent drop from the 8.3% we projected last quarter. This is part of a softening that, while significant, is simply a slowing down of most markets.
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[Pulse] Here are the 10 markets where home prices will rise most in 2019

This year will see significant price softening in the West
After nearly two years of continuous projected year-over-year increases in nationwide residential real estate appreciation, we predict that properties in the largest 100 markets will appreciate at just 3.9% in the coming year. Increasing housing supply and rising interest rates will be key contributors to the softening of the market.
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Here are the 10 MSAs with the lowest appreciation

VeroFORECAST predicts 7 out of 10 markets will see property values decline
[Expert commentary] The latest VeroFORECAST report shows that 351 Metropolitan Statistical Areas will experience property appreciation in the next year. But, of the bottom 10 MSAs, seven will see values decline between -0.2% and -2.2% in 2019. The two most troubled markets? Farmington, New Mexico, and Vineland-Millville-Bridgeton, New Jersey.
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