Home Price Growth Is Moderating – Here’s Why That’s Good for You

Over the past few years, home prices skyrocketed. That’s been frustrating for buyers, leaving many wondering if they’d ever get a shot at owning a home. But here’s some welcome news: that whirlwind pace of home price growth is slowing down.

Home Prices Are Rising at a Healthy Pace

At the national level, home prices are still going up, but at a much more moderate, normal pace. For example, in November, the year-over-year increase in home prices was just 3.8% nationally, according to Case-Shiller. That’s a far cry from the double-digit spikes that occurred in 2021 and 2022 (see graph below):

What does this mean for you? It’s crucial to understand what’s happening in your local market. A national average can’t tell the whole story. That’s where working with a local real estate agent can really help. They have the tools and expertise to give you the full picture of what’s happening in your area and how to plan for that in your move.

Bottom Line

Home prices are growing at a more manageable pace, and working with a local real estate agent can help you navigate the ups and downs of your specific market.

How have changing home prices impacted your plans to buy? Let’s talk about it.

source: KCM
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Minouche Martins and Keeping Current Matters, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Minouche Martins and Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

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