One software company predicts that the five markets with the highest home-price-appreciation rates this year, four of which are California, will not see as big of gains next year.
In a recent webinar, predictive real estate software vendor Veros noted that homes in Los Angeles, San Diego,San Francisco, and San Jose have experienced price gains of more than 10 percent in 2013. But Eric Fox, VP of Statistic and Economic Modeling at Veros, doesn’t believe that prices will continue to appreciate at that rate in 2014.
Instead, Fox predicts that supply issues in those four California markets, as well as Phoenix, will lead prices to rise only about 5 percent next year.
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