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Home price gains were strong in January, says S&P Case-Shiller, before coronavirus hit US economy

“We expect a peak-to-trough fall in prices of around 4% by early 2021, with values then flattening out for the rest of the year,” wrote Matthew Pointon, an economist with Capital Economics. “Housing demand will see a sharp decline as unemployment hits record highs, and households are prevented from buying a home due to the shut down of large parts of the economy.”

Pointon says the risk to housing will rise, so buyers’ willingness to pay for a home will fall, and house price expectations will take a hit.

https://www.cnbc.com/2020/03/31/before-coronavirus-january-home-price-gains-were-strong-sp-case-shiller.html

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