While this news may not come as a shock to some, recent trends have begun to show that the surging home prices across the nation have started to slow down at the end of 2013. Pent up purchase demand, lowering unemployment rates, and record low mortgage rates contributed to the rising home prices in 2013.
Now that the mortgage rates have begun to rise back to normal levels, we anticipate the market to level itself out and the price surge to slow down a bit. On the bright side, we’re still about 20% below the 2006 high’s across the nation, so there is still room to grow.
Read the full article from CNN Money here. ')}