Last year, some housing experts projected a decline in home prices by the end of 2023. But that didn’t happen – inventory was just too low.
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If you're wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year.
If you’re considering buying or selling a home, you’ll want to know what’s happening in the housing market.
Looking at monthly home price data from six expert sources shows the worst home price declines are behind us, and they’re rising again nationally.
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.
The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow.
- 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%.
- In today’s sellers’ market, you’re set up to win big when you list your house.
- That’s because homes are selling fast, receiving 4.4 offers on average and often selling above the asking price. Then, when you buy your next home, you’ll also win by addressing your changing needs and taking advantage of near historic-low mortgage rates.
- Pricing your house right takes market experience and expertise.
- To find the best list price, your agent balances current market demand, values of homes in your neighborhood, where prices are headed, and your home’s condition.
- When it comes to the current housing market, there are multiple misconceptions – from what the current supply of available homes looks like to how much houses are selling for.
- It takes professionals who study expert opinions and data to truly understand the real estate market and separate fact from fiction.
While home prices vary by local area, they’ve already hit their low point nationally, and now they’re starting to rise again.
If you’re following the news today, you may feel a bit unsure about what’s happening with home prices and fear whether or not the worst is yet to come.