According to the real estate research firm CoreLogic, annual home price growth during the pandemic was the most the group had ever seen in its 45 years of tracking home prices. Since the World Health Organization first declared a pandemic in March 2020, home prices have risen dramatically. CoreLogic reports that median home prices across the United States increased by 18 percent between July 2020 and July 2021. The increase was even more significant in Canada, where data from the Canadian Real Estate Association indicated home prices had risen by more than 38 percent between 2020 and 2021. Such increases were welcome news for individuals who already owned their homes, but many individuals who did not find themselves priced out of the market. The good news for potential homebuyers is that median home prices are not expected to increase as much in 2022 as they have since the onset of the pandemic. In fact, CoreLogic forecast a 2.7 percent appreciation between July 2021 and July 2022.
“For my thoughts are not your thoughts, neither are your ways my ways,” declares the LORD. “As the heavens are higher than the earth, so are my ways higher than your ways and my thoughts than your thoughts.”
Mon: Creamy Mushroom Steak, Baked Potatoes, Broccoli, Wheat Bread, Blushing Pears
Please join Olney Enterprise and Olney Heritage Museum as we journey through Olney’s past, present and future. This new series will take the reader on a journey that began in 1891 and will lead down a path of discovery to present-day Olney. Some articles in the series will be small and some large. You may be transported to the past, or it could be a look into the future of Olney. The constant in this journey is the destination is always Olney.