The rate of home price appreciation accelerated dramatically during the previous two years. Although it resulted in phenomenal equity gains for homeowners, it has also made some potential purchasers fear if home prices may decline. It's crucial to understand that strong market fundamentals are supporting the rise in property prices and that the housing market is not a bubble that is poised to explode.
It's critical to examine what led to the recent sharp increase in home prices and where analysts predict they are headed in order to comprehend why price decreases are unlikely. The national home price increases are still above 20 percent.
Because there was a greater demand than there was supply, home prices have risen recently. Experts do not anticipate a decrease in prices as a result of the market shift, just a slowing of price increase. Let's connect today to discuss the state of home prices in our region.
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