KIRO Radio's Tom Kelly digs deep into the Puget Sound real estate market
Real Estate

New report predicts 7.2 percent home appreciation

Home prices are posting historically large gains in some markets, prompting JPMorgan Chase to revise its forecasts for the industry.

In 2013, home prices could soar up to 7.2 percent, according to a new report by JPMorgan Chase. JPMorgan Chase also revised its projections on home prices upward to 3.9 percent for 2014 and 3.2 percent for 2015.

"Despite the lack of data for investor demand, we saw all-cash sales remain higher than 30 percent of housing sales," according to analysts at JPMorgan.

Limited inventories helped net demand in April to climb to its highest level since 2006, according to the report. Also, distressed sales are declining-falling below 20 percent for the first time since 2008. With net demand climbing, distressed sales falling, and builder confidence improving, JPMorgan analysts say that the signs point to a continuous recovery in the housing market.

Top Stories

  • Prime-Time
    Will prime-time be a good time for the Seahawks once again?

  • Week in Photos
    Cheetahs, penguins and Santa make it in this week's photos
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Listen to the show
Hear Real Estate Today on KIRO Radio
Join Tom Kelly every Sunday at 9am on KIRO Radio to talk Puget Sound real estate.

Sign up for breaking news e-mail alerts from
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.