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Expert Real Estate Advice October 2023

Stephanie Lynch | October 11, 2023

Real Estate Advice

Wondering what’s happening in the Housing Market?

If you’ve been thinking of making a move, you might be asking, "What’s happening with home prices?”

DESPITE WHAT YOU MAY BE HEARING, HOME PRICES ARE NOT FALLING NATIONALLY.

Rather, price appreciation is beginning to normalize. The rapid pace of home price growth we saw in recent years was unsustainable and had to slow down at some point.

HIGHER INTEREST RATES HAVE SLOWED THE MARKET SLIGHTLY.

Home prices are still appreciating and rising but now better align with historic seasonal expectations. We are now witnessing a deceleration of appreciation, not depreciation.

THIS ISN'T 2008, AND EXPERTS AREN'T EXPECTING A "CRASH."

Inventory levels aren’t anywhere near where they’d need to be for prices to drop significantly and the housing market to crash... and there’s nothing to suggest that It will change soon.