Home price growth has slowed, but values are still up overall.
Selling a home is a big decision, and it’s not one that should be taken lightly. If you’re thinking about selling your home, you may be second-guessing your decision, especially if you’re concerned about current market conditions. If that’s you, there are a few things you should know.
One way to get a sense of market conditions is to look at home price growth. The graph at 0:10 in the video above shows home price growth since 2019. Home prices peaked during the pandemic, but price growth has slowed down over the past few months. While this may seem like a cause for concern, it’s important to note that home values are still up almost 8% nationally on a year-over-year basis. This is a lot more than the 3% to 4% growth we’re used to seeing in a more normal year like 2019.
“Price fluctuation is a way to get a sense of market conditions.”
What does this mean for you as a home seller? While you may not be able to capitalize on the 20% appreciation your neighbors got when they sold last spring, a 10% gain is still dramatic compared to a more normal year, and that’s a win for you.
If you’re concerned about home prices in your area or specific neighborhood, it’s important to speak with a real estate professional who can help you make an informed decision. As always, I’m here to help. If you have questions about home prices or anything else related to real estate, please don’t hesitate to call, text, or email me. I look forward to hearing from you!
