What buyers and sellers need to know about housing prices.
Want to know what’s really happening with home prices? Spoiler alert: they’re not falling. Price growth is just returning to more normal levels. Let me explain what I mean by this.
Recent data by Case-Shiller, which shows the 49-year average for home price versus what’s happened this year, shows that price growth starts slow at the beginning of the year. That ramps up during the spring home-buying season, and then it cools off in the second half of the year. This is typical seasonality. With the exception of January, we started to fall more in line with what’s normal for price growth in the housing market, and that’s a good thing.
I’ll continue to watch this trend for you. And as new data is available, I’ll keep you posted. In the meantime, call or email me if you have questions or if you want more info on exactly what’s happening right here in our local area.