Recent Home Price Declines Are Offset by 5 Year Gains
Seeing headlines about home prices dropping?
Don’t panic.
First of all, prices are still rising in much of the country, just at a slower pace. But even in the select metros where prices are down slightly, it’s not a red flag. It’s a signal prices are normalizing after several years of rapid appreciation. Here's a stat to put those drops into perspective. Over the past 5 years, home prices rose by 45% nationwide. The cities seeing drops right now are only down an average of 4%. That doesn’t come close to erasing the big gains most homeowners had since 2020. So, don’t let the headlines rattle your confidence. Chances are, you probably still have a lot more equity than you realize. Want to know how much? DM me and I'll run the numbers.
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