Do headlines have you questioning what’s going to happen with home prices? Experts forecast home prices will not fall or depreciate. Instead, they’re likely to continue appreciating, but at a more moderate, decelerated pace. This means that the rate at which home prices have been increasing will slow---in my opinion that's a good thing! We also expect inventory to go up which will also help! Buyers may go into a bit of a "hibernation mode" over the next few weeks---evaluating what's happening, this could cause us to see homes on the market longer & price decreases for some properties that over estimated the market value in their pricing strategy.
If you want to discuss what’s going on with home prices in our local market, DM me today.
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Buying or Selling? Here's some useful advice!