Mortgage
Thinking about buying a home or selling your current one to find a better fit? If so, you might be wondering what's going on with home prices these days. Here's the scoop.
The latest national data from Case-Shiller and the Federal Housing Finance Agency (FHFA) shows they’re going up (see graphs below):
As you can see, home prices were rising for most of 2023. But over the course of December and January, they were virtually flat – which is pretty normal for that time of year.
But here's what you need to know now. As of February, when the spring market kicked off, prices were on the rise again.
After seeing a jump in home prices nationally in February, you might be wondering if they’re going up in your area, too. While it depends on where you live, prices are rising in 18 of the top 20 cities Case-Shiller reports on in the monthly price index (see chart below):
Most experts also think home prices will keep rising and end the year on a high note. Forbes explains why:
“Even as mortgage rates have reached their highest level since November, persistent demand coupled with limited housing supply are key drivers pushing home values upward.”
The data shows home prices are increasing nationally. Let's chat to see exactly what’s going on with prices in our neighborhood.
Stay up to date on the latest real estate trends.
Mortgage rates will come down slightly. More homes will sell. And prices will rise more moderately.
If you're in the market for a million-dollar home, now is an excellent time to explore the thriving luxury market.
What does this mean for the housing market, and more importantly, for you as a potential homebuyer or seller?
While financial aspects are important, sometimes the personal motivations for moving are reason enough
Here’s some information that could help you make your decision.
The biggest missteps are pricing a house too high, skipping repairs, not being objective, and not being willing to negotiate.
6 beds | 4 baths | 2,232 sq ft
For now, this is still seller’s market territory – it’s just not as frenzied of a seller’s market as it’s been over the past few years.
Mortgage Rates Are Projected To Come Down Slightly
You’ve got questions and we can’t wait to answer them.