Home Prices Will Increase
Arch Mortgage anticipates that home prices should rise by 2 to 6 percent each year because of strong demand and smaller supply.
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Lower End of Housing Might Benefit While Higher End Hurt
With changes to the standard deduction, the mortgage interest deduction no longer serves as a big factor since fewer people will itemize their taxes. Lower taxes for those who don’t itemize could stimulate demand in lower-cost markets, the report said. At the higher end, prices could grow but at a slower rate. However, there are some areas where price declines could take place because price growth and population growth are already weak, the report said.