Keeping Current Matters November 17, 2023
Buyer
If you’re considering buying a home or selling your current one to find something that better suits your needs, you may have questions about what’s happening with home prices today. Here’s what you need to know.
There’s still a lot of confusion and misinformation out there. So, no matter what you may have heard, the national data shows they've actually been climbing again (see graphs below):
As you can see, in the first half of 2022, home prices went way up. Those increases were dramatic and unsustainable. So, in the second half of 2022, prices adjusted. Those dips were small and didn't last very long. Still, the news made a big deal about these slight declines, which may have made you worry.
But what's important to know is that, in 2023, prices are going up again, and this time it's at a more normal pace. The fact that all three reports now show more typical price increases this year is good news for the housing market.
After seeing steady home price growth at the national level for the last several months, you may wonder if prices are going up in your local area, too. Know this: while this will vary from one area to the next, home prices are appreciating in these top cities Case-Shiller reports on in their monthly price index (see chart below):
That’s why so many experts are able to forecast home prices will end the year in the positive and continue going up in 2024.
If you delayed moving because you were concerned home prices would drop, don't worry – the numbers show they're going up nationally. To better understand how home prices are changing in your local area, let’s connect.
Stay up to date on the latest real estate trends.
October 14, 2024
There are two types of people in the world: those who brush their teeth before breakfast and those who brush their teeth after breakfast.
October 14, 2024
It’s that time of year.
October 14, 2024
Based on a recent study, in 22 of the top 50 metros, the monthly mortgage payment is lower than the rent payment.
October 13, 2024
A total of 87,108 residential properties carried foreclosure filings during the third quarter of this year, according to new data from ATTOM.
October 13, 2024
Linda and Jerry Salzman fell in love with Delray Beach, Florida, back in November 2015.
October 12, 2024
In today’s column, I explore the human-to-human psychological phenomenon known as mirroring and reveal that modern-day generative AI can also partake in mirroring beha… Read more
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today