As the pace of home price appreciation decelerates in recent months, many fear that price changes will fall into negative territory. But Wells Fargo Securities economists say that won’t be the case.
The Oct. 9 Wells Fargo Securities Housing Chartbook says that “the fundamentals have simply improved far too much for demand and prices to weaken on a sustained basis.” Instead, the economists attribute the “swing in prices to investor buyers stepping way faster than traditional buyers have returned,” National Mortgage News reports.
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