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Comparing housing market metrics from one year to another can be challenging in a normal housing market – and the last few years have been anything but normal. In a way, they were 'unicorn' years.
Toward the end of last year, there were a number of headlines saying home prices were going to fall substantially in 2023.
- If you’re thinking about selling your house, recent headlines about home prices falling month-over-month may have you second guessing your decision—but perspective matters.
- While home prices are down slightly month-over-month in some markets, home values are still up almost 10% nationally on a year-over-year basis. A nearly 10% gain is still dramatic compared to the more normal level of appreciation, which is 3-4%.
During the fourth quarter of last year, some housing experts projected home prices were going to crash in 2023.
If you’re thinking of buying or selling a home, one of the biggest questions you have right now is probably: what’s happening with home prices?
The housing market continues to shift and change, and in a fast-moving landscape like we’re in right now, it’s more important than ever to have a trusted real estate agent on your side.
If you've been following the news recently, you might have seen articles about an increase in foreclosures and bankruptcies.
If you’re thinking of making a move, one of the biggest questions you have right now is probably: what’s happening with home prices?
You may see media coverage talking about a drop in homeowner equity.
Want to know what experts say will happen in the rest of 2023?
- If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership.
- On average, nationwide, home prices appreciated by 288.7% over the last 32 years. That means homeowners grow their net worth significantly in the long term.
Comparing real estate metrics from one year to another can be challenging in a normal housing market.
When you look at the numbers today, the one thing that stands out is the strength of this housing market.