If you\u2019re thinking about\u00a0buying<\/a>\u00a0or\u00a0 selling<\/a>\u00a0a home this year, you may have questions about what\u2019s happening with home prices today as the market cools. In the simplest sense, nationally, experts don\u2019t expect prices to come crashing down, but the level of\u00a0 home price moderation<\/a>\u00a0will depend on factors like supply and demand in each local market.<\/p>\n

That means, moving forward, home price appreciation will continue to vary by location, with more significant changes happening in overheated areas. Here\u2019s a quick snapshot of what the experts are saying:<\/p>\n

Danielle Hale, Chief Economist at\u00a0 realtor.com<\/a>,\u00a0 says<\/a>:<\/p>\n

\u201cThe major question on the minds of homeowners and aspiring buyers alike is what will happen to home prices. . . Soaring prices were propelled by all-time low mortgage rates which are a thing of the past. As a result,\u00a0home price growth is expected to continue slowing,\u00a0<\/strong>dipping below its pre-pandemic average to 5.4% for 2023, as a whole.\u201d<\/strong><\/p><\/blockquote>\n
Mark Fleming, Chief Economist at\u00a0First American,\u00a0says<\/a>:<\/p>\n
\u201cHouse price appreciation has slowed in all 50 markets we track, but\u00a0the deceleration is generally more dramatic in areas that experienced the strongest peak appreciation rates<\/strong>.\u201d<\/p><\/blockquote>\n
Taylor Marr, Deputy Chief Economist at\u00a0Redfin,\u00a0says<\/a>:<\/p>\n
\u201cFor those bearish folks eagerly awaiting the home price crash, you’ll have to keep waiting.\u00a0As much as demand is pulling back supply is as well reducing downward pressure on prices in the short run.\u201d<\/strong><\/p><\/blockquote>\n
John Paulson, Founder of\u00a0Paulson & Co.,\u00a0says<\/a>:<\/p>\n
\u201cIt\u2019s true \u2013 housing may be a little frothy. So\u00a0housing prices may come down or they may plateau<\/strong>\u00a0. . .\u201d<\/p><\/blockquote>\n
What Does This Mean for You?<\/strong><\/h4>\nThe best way to get the answers you need is to lean on a local\u00a0 real estate advisor<\/a>. They\u2019ll be able to explain the latest trends in your specific market so you can make a confident and informed decision on your next step toward buying or selling a home.<\/p>\n
Bottom Line<\/strong><\/h3>\n<\/div>\n
If you have questions about what\u2019s happening with home prices today, let\u2019s connect so you have the latest on our local market.<\/p>\n","protected":false},"excerpt":{"rendered":"
If you\u2019re thinking about\u00a0buying\u00a0or\u00a0selling\u00a0a home this year, you may have questions about what\u2019s happening with home prices today as the market cools. In the simplest sense, nationally, experts don\u2019t expect prices to come crashing down, but the level of\u00a0home price moderation\u00a0will depend on factors like supply and demand in each local market. That means, moving forward, home price appreciation will continue to vary by location, with more significant changes happening in overheated areas. Here\u2019s a quick snapshot of what the experts are saying: Danielle Hale, Chief Economist at\u00a0realtor.com,\u00a0says: \u201cThe major question on the minds of homeowners and aspiring buyers alike is what will happen to home prices. . . Soaring prices were propelled by all-time low mortgage rates which are a thing of the past. As a result,\u00a0home price growth is expected to continue slowing,\u00a0dipping below its pre-pandemic average to 5.4% for 2023, as a whole.\u201d Mark Fleming, Chief Economist at\u00a0First American,\u00a0says: \u201cHouse price appreciation has slowed in all 50 markets we track, but\u00a0the deceleration is generally more dramatic in areas that experienced the strongest peak appreciation rates.\u201d Taylor Marr, Deputy Chief Economist at\u00a0Redfin,\u00a0says: \u201cFor those bearish folks eagerly awaiting the home price crash, you’ll have to keep waiting.\u00a0As much as demand is pulling back supply is as well reducing downward pressure on prices in the short run.\u201d John Paulson, Founder of\u00a0Paulson & Co.,\u00a0says: \u201cIt\u2019s true \u2013 housing may be a little frothy. So\u00a0housing prices may come down or they may plateau\u00a0. . .\u201d What Does This Mean for You? The best way to get the answers you need is to lean on a local\u00a0real estate advisor. They\u2019ll be able to explain the latest trends in your specific market so you can make a confident and informed decision on your next step toward buying or selling a home. Bottom Line If you have questions about what\u2019s happening with home prices today, let\u2019s connect so you have the latest on our local market.<\/p>\n","protected":false},"author":8,"featured_media":9398,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,4],"tags":[46,47,40,41,44,43,42,45],"_links":{"self":[{"href":"https:\/\/mcveighproperties.com\/wp-json\/wp\/v2\/posts\/9397"}],"collection":[{"href":"https:\/\/mcveighproperties.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mcveighproperties.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mcveighproperties.com\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mcveighproperties.com\/wp-json\/wp\/v2\/comments?post=9397"}],"version-history":[{"count":1,"href":"https:\/\/mcveighproperties.com\/wp-json\/wp\/v2\/posts\/9397\/revisions"}],"predecessor-version":[{"id":9399,"href":"https:\/\/mcveighproperties.com\/wp-json\/wp\/v2\/posts\/9397\/revisions\/9399"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mcveighproperties.com\/wp-json\/wp\/v2\/media\/9398"}],"wp:attachment":[{"href":"https:\/\/mcveighproperties.com\/wp-json\/wp\/v2\/media?parent=9397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mcveighproperties.com\/wp-json\/wp\/v2\/categories?post=9397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mcveighproperties.com\/wp-json\/wp\/v2\/tags?post=9397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}