Thinking about buying a home or selling your current one to find a better fit? If so, you might be wondering what's going on with home prices these days. Here's the scoop. The latest national data from Case-Shiller and the Federal Housing Finance Agency (FHFA) shows they're going up. As you can see, home prices were rising for most of 2023. But over the course of December and January, they were virtually flat - which is pretty normal for that time of year. But here's what you need to know now. As of February, when the spring market kicked off, prices were on the rise again.
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What Does This Mean for Home Prices? So, while there’s been an increase in price reductions recently, this doesn’t mean overall home values are declining. Instead, it’s a sign that demand is moderating. And, as a result, sellers are adjusting their expectations to align with today’s market reality. Even with more price reductions, home values are still growing on an annual basis, as they do nearly every year in the housing market. According to the Federal Housing Finance Agency (FHFA), home prices went up 6.6% over the last year (see below)
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🚨🏠 ATTENTION: Have you seen what's happening with home prices in the United States? 🏠🚨 Check out this chart showing the staggering increase in average home prices since August 2020, just a few months into the pandemic. Back then, the average home price was at $74... But fast forward to now, and it's through the roof! 📈💰 Why isn't this making headlines everywhere? 🤔 Let's talk about what's going on with the housing market and how it's affecting everyone. Watch the full video 👉 https://lnkd.in/guhRFNBW
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This is interesting....thought I would share. Today’s headlines and news stories about home prices are confusing and make it tough to know what’s really happening. Some say home prices are heading for a correction, but what do the facts say? Well, it helps to start by looking at what a correction means. Here’s what Danielle Hale, Chief Economist at Realtor.com, says: “In stock market terms, a correction is generally referred to as a 10 to 20% drop in prices . . . We don't have the same established definitions in the housing market.” In the context of today’s housing market, it doesn’t mean home prices are going to fall dramatically. It only... Lic#BS.0145013
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Home prices reached a new record high in May after the national median existing-home price hit $419,300, according to National Association of Realtors (NAR) data. It represents a 5.8% increase from a year ago. In last Friday's We Study Markets, we discussed the biggest stories in the markets: why home prices keep climbing higher, and the next act for Blackstone’s $339 billion property arm. Stay in the loop! https://lnkd.in/gwU8hEca
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If you’ve heard home prices will come crashing down, it’s time to look at what’s happening. While prices vary by local market, a lot of data from numerous sources shows a crash will not occur. Back in 2008, there was a dramatic oversupply of homes that led to prices crashing. Across the board, there’s an undersupply of homes for sale today. That makes this market a whole different scenario (see chart). 👉 https://lnkd.in/gwfevp7i
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If you’ve heard home prices will come crashing down, it’s time to look at what’s happening. While prices vary by local market, a lot of data from numerous sources shows a crash will not occur. Back in 2008, there was a dramatic oversupply of homes that led to prices crashing. Across the board, there’s an undersupply of homes for sale today. That makes this market a whole different scenario (see chart). 👉 https://lnkd.in/gGTxxJVi
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How do you know if you should buy a home in this market? I mean, interest rates are higher than they were 2.5 years ago. Home prices keep going up. Sounds like maybe you should wait ... but, for what? Interest rates to go down? And then home prices have gone up even more! Join me Tuesday evening, July 23rd and let's discuss real data and facts that should impact your homebuying decision. Use the link to RSVP!
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First Vice President, Financial Advisor, Corporate Retirement Director, Financial Wellness Director at Morgan Stanley
Record-high prices remain a key concern for buyers in the U.S. housing market. Our Co-Heads of Securitized Product Research dig into the data, explaining why they still believe a deceleration in home price growth will come.
U.S. Housing: What Will Slow Home Price Growth? | Morgan Stanley
morganstanley.com
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Record-high prices remain a key concern for buyers in the U.S. housing market. Our Co-Heads of Securitized Product Research dig into the data, explaining why they still believe a deceleration in home price growth will come.
U.S. Housing: What Will Slow Home Price Growth? | Morgan Stanley
morganstanley.com
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🧐 If you think the recent interest rate increase just priced you out of the housing market, think again! The truth is it's still a great time to buy! Interest rates are at historic lows – which means even though home prices are rising along with interest rates, interest rates are still lower than they have been in decades past. Let's talk about your options & get you on the road to your new home! 🤩🏡🔑 #YourDreamHomeAwaits #LetsChatAboutIt 📱https://lnkd.in/eVEZJ59A
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