What Should Homeowners Know About Moderating Home Prices?
If home-price headlines have you second guessing your decision to sell, here’s what you need to know.
This graph shows home price growth since twenty-nineteen. Home prices peaked during the pandemic, and the green bars confirm that price growth has slowed down over the past few months. But, here’s the thing.
Even though home prices are moderating, the last bar on the right tells us home values are still up almost eight percent nationally on a year-over-year basis. And that’s a lot more than the three- to four-percent growth we’re used to seeing in a more normal year, like twenty-nineteen.
Why is this important to know? While you may not be able to capitalize on the twenty-percent appreciation your neighbors got when they sold last spring, a ten-percent gain is still dramatic compared to a more normal year - and that’s a win for you!