Home prices rising again this spring!

Consumer demand is returning in the real estate market, but the inventory of homes for sale is still low. This combination of high demand and low supply provided tailwinds for home prices this spring. Prices were up 1.6% year-over-year in May, signaling the strength of the real estate market despite the ravages of the pandemic.
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What will happen to home values this year?

Now that the economy in the tri- state area is beginning to open up, the big question in real estate is whether home values will go up or down from this point forward. The strongest predictor of this metric is also the simplest: supply and demand.
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