Leave a Message

Thank you for your message. We will be in touch with you shortly.

What’s Going on with Home Prices? Ask a Professional.

December 6, 2022

Buyer

What’s Going on with Home Prices? Ask a Professional.

If you’re thinking about buying or selling a home this year, you may have questions about what’s happening with home prices today as the market cools. In the simplest sense, nationally, experts don’t expect prices to come crashing down, but the level of home price moderation will depend on factors like supply and demand in each local market.

That means, moving forward, home price appreciation will continue to vary by location, with more significant changes happening in overheated areas. Here’s a quick snapshot of what the experts are saying:

Danielle Hale, Chief Economist at realtor.comsays:

“The major question on the minds of homeowners and aspiring buyers alike is what will happen to home prices. . . Soaring prices were propelled by all-time low mortgage rates which are a thing of the past. As a result, home price growth is expected to continue slowing, dipping below its pre-pandemic average to 5.4% for 2023, as a whole.

Mark Fleming, Chief Economist at First Americansays:

“House price appreciation has slowed in all 50 markets we track, but the deceleration is generally more dramatic in areas that experienced the strongest peak appreciation rates.”

Taylor Marr, Deputy Chief Economist at Redfin, says:

“For those bearish folks eagerly awaiting the home price crash, you’ll have to keep waiting. As much as demand is pulling back supply is as well reducing downward pressure on prices in the short run.”

John Paulson, Founder of Paulson & Co., says:

“It’s true – housing may be a little frothy. So housing prices may come down or they may plateau . . .”

What Does This Mean for You?

The best way to get the answers you need is to lean on a local real estate advisor. They’ll be able to explain the latest trends in your specific market so you can make a confident and informed decision on your next step toward buying or selling a home.

Bottom Line

If you have questions about what’s happening with home prices today, connect with a real estate professional for information on your local market.

 

(2022, December 6). https://www.keepingcurrentmatters.com/2022/12/06/whats-going-on-with-home-prices-ask-a-professional/?utm_campaign=Blog_Promo&utm_medium=email&utm_source=email-automated&utm_content=DailyBlogSubscription&utm_term=BlogPost. Keeping Current Matters. Retrieved December 6, 2022, from https://www.keepingcurrentmatters.com/2022/12/06/whats-going-on-with-home-prices-ask-a-professional/?utm_campaign=Blog_Promo&utm_medium=email&utm_source=email-automated&utm_content=DailyBlogSubscription&utm_term=BlogPost


Real Estate Investing

10 Proven Strategies to Maximize ROI on Your Investment Property

Brian Ng  |  October 14, 2024

10 Proven Strategies to Maximize ROI on Your Investment Property

Seller's Real Estate Tips

Navigating Zoning Restrictions & Planning Permissions: Essential Insights for Real Estate Success

Brian Ng  |  October 9, 2024

Navigating Zoning Restrictions & Planning Permissions: Essential Insights for Real Estate Success

Seller

How to Avoid the Trap of Properties Stuck on the Market Too Long: Strategies for Sellers

Thao Dang Pham  |  October 9, 2024

How to Avoid the Trap of Properties Stuck on the Market Too Long: Strategies for Sellers

Real Estate Investing

How to Gain Equity Quickly in Real Estate: 7 Proven Strategies for Rapid Growth

Thao Dang Pham  |  September 27, 2024

How to Gain Equity Quickly in Real Estate: 7 Proven Strategies for Rapid Growth

Seller

Proven Strategies to Attract High-Value Buyers to Your Property Fast

Thao Dang Pham  |  October 7, 2024

Proven Strategies to Attract High-Value Buyers to Your Property Fast

Seller's Real Estate Tips

Are You Struggling to Find Qualified, Serious Buyers?

Brian Ng  |  October 4, 2024

Are You Struggling to Find Qualified, Serious Buyers?
FOLLOW US ON INSTAGRAM