Wondering what is going on with home prices? Well, to be quite honest...
Not much. The recent changes in home prices are top of mind for many as the housing market begins gearing up for spring. It can be hard to navigate misleading headlines and confusing data, so here’s what you should know about today’s home prices.
The big dramatic fear that everyone was having towards the end of last year was that home prices were just going to plummet. But the truth is, for the past four months they have stayed relatively the same.
So, they hit their peak at the summer of 22 and have pretty much remained steady. So, if you are concerned about even the slightest drop, sure I understand. But what we've seen is that the market has levelized with the higher interest rates, but there is still a shortage of supply.
If you currently own your house, you may be concerned about even the smallest decline in prices. But keep in mind how much home values grew over the last few years.
So, your home is still important. It does mean that you need to have the right strategy when you're trying to sell and that your home is ready to go.
If you're curious on what that looks like, make sure you give us a call and we'd love to give you free evaluation.
