What's Going on With The Real Estate Market?

What's Going on With The Real Estate Market?

 Home Buyers and Sellers are asking," what's going on with home values?"

Although most home buyers and sellers are still seeing numerous headlines about home appreciation their eyes are seeing price reductions in the local real estate marketplace. The mixed messages can be very confusing, so what is actually going on?

First, let's understand what the experts mean by their terminology. 

Appreciation is when home prices increase.

Depreciation is when home prices decrease.

Deceleration is when home prices continue to appreciate but at a slower or more moderate pace.

Secondly, most experts agree that the real estate market has left the record-breaking appreciation pace from this past spring to a more decelerated pace. Home values are continuing to increase in most areas, just at a much slower pace than a couple of months ago. 

As we enter this deceleration pace, many areas will be affected differently. Moderate selling areas will see slight home value growth while hot areas will actually see some declines in home values. 

How the market responds in the next couple of months will help determine if the real estate market stays in a deceleration mode or switches to a depreciation market.

If you have questions about the real estate market and would like to know how your home has been affected, let's talk . . . (913) 712-9313

Post a Comment