Home price gains likely to be modest in Delaware

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HomeDelaware is expected to see a 3.7 percent gain in home prices during the next year.

The real estate information firm  CoreLogic also reported the nation as a whole is expected to see a 4.6 percent gain.

CoreLogic made the estimate for a period from October 2016 and October 2017.

Between October 2015 and October 2016,  the value of homes  in Delaware rose only 1.8 percent, well below the 6.7 percent reported nationwide.

Between September and October of this year,  home prices appreciated by seven-tenths of one percent in Delaware compared to the national average of  1.1 percent.

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Neighboring states are also seeing lower-than-average rates for home price appreciation, according to CoreLogic.

Delaware home prices have been affected by cutbacks at DuPont and other large employers, especially on the upper end of the market.

At the same time,  the supply of homes in lower price points has been tightening in Delaware as sales show strength.

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