Appreciation is slowing, not depreciating

One of the biggest questions you may be asking right now is: 𝙬𝙝𝙖𝙩’𝙨 𝙝𝙖𝙥𝙥𝙚𝙣𝙞𝙣𝙜 𝙬𝙞𝙩𝙝 𝙝𝙤𝙢𝙚 𝙥𝙧𝙞𝙘𝙚𝙨?

While there are headlines about price appreciation, at the same time, some sellers are reducing the price of their homes on the market.

Feels 𝙘𝙤𝙣𝙛𝙪𝙨𝙞𝙣𝙜, right?

- Appreciation is when home prices increase
- Depreciation is when home prices decrease
- Deceleration is when home prices continue to appreciate, but at a slower or more moderate pace.

What we’re seeing today is 𝙙𝙚𝙘𝙚𝙡𝙚𝙧𝙖𝙩𝙞𝙤𝙣. Home prices are appreciating, just not at the record-breaking pace they did over the last year.

This year, nationwide, we started out seeing home prices increasing around 19.1%. But over the last few months, the pace of that appreciation has decelerated to anywhere between 18.3-17%. Price growth is still climbing compared to last year, but at a slower rate.

If you have any questions about what is happening in your area, shoot us a DM.